Pharmaceutical Industry Exports and Imports Increased in 2020

The Ministry of Industry reported that the value of pharmaceutical industry exports, including chemical and traditional medicine products, reached US$635 million in 2020. This figure increased by 4.27% from the previous year's US$609 million.

The trend in pharmaceutical industry export values has been fluctuating. The highest export value was recorded in 2016 at US$644 million, while the lowest was in 2018 at US$603 million. The five largest export destinations for Indonesia's pharmaceutical industry are Singapore, Japan, the Philippines, India, and Thailand, contributing 58% to the total value of Indonesian pharmaceutical exports worldwide.

Meanwhile, the value of pharmaceutical industry imports in 2020 was recorded at US$1.68 billion. This also increased by 20.45% from the previous year's US$1.39 billion.

The value of pharmaceutical industry imports has been increasing since 2016. The highest value was recorded in 2020, while the lowest was in 2016 at US$1.28 billion. Indonesia's largest pharmaceutical industry imports originate from China, the United States, Germany, India, and France.

The value of Indonesia's pharmaceutical industry imports is higher than its exports, resulting in a trade deficit of US$1.05 billion in 2020. This deficit increased from the previous year's US$789 million.

The largest pharmaceutical industry deficit was with China, reaching US$416.9 million in 2020. This indicates that Indonesia's pharmaceutical needs, including raw materials, largely still come from overseas (imports).