Exports in the pharmaceutical sector for the third quarter of this year rose 6.2 percent from a year earlier to total NT$3.42 billion (US$113 million) on the back of rising demand for Western medicines, a government report said on Saturday.
According to the report released by the Industry and Technology Intelligence Service (ITIS), exports of Western medicines in the three-month period rose 11 percent from a year earlier to NT$1.72 billion.
The ITIS is a research institute at the Ministry of Economic Affairs’ Department of Industrial Technology.
The report said exports of active pharmaceutical ingredients (APIs) totaled NT$1.58 billion, an increase of 1.3 percent compared with a year earlier, while exports of Chinese medicines rose 9.1 percent to NT$120 million.
Meanwhile, pharmaceutical imports in the July-to-September period rose 7.5 percent from a year earlier to NT$17.97 billion, the report said.
Imports of Western medicines during the same period rose 7.2 percent from a year earlier to NT$16.53 billion and imports of APIs rose 10.9 percent to NT$1.43 billion. Imports of Chinese medicines fell 2.9 percent to NT$10 million, the report said.
The report said pharmaceutical exports would continue to grow no less than 10 percent for the whole of this year.
For the entire year, the report estimated pharmaceutical exports would reach NT$13.19 billion, up 12.5 percent from a year earlier, while exports of Western medicines and APIs are expected to rise 24.9 percent and 1.5 percent year-on-year to NT$6.63 billion and NT$6.61 billion respectively.
The report said the value of imports this year is expected to rise 4.3 percent from a year earlier to NT$68.51 billion.
Imports of Western medicines this year are expected to grow 3.5 percent from a year earlier to NT$62.96 billion and API imports are likely to rise 6.6 percent to NT$5.51 billion, while imports of Chinese medicines may fall 42.2 percent to NT$40 million.
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