Which market does Vietnam import the most pharmaceuticals from?

According to data from the General Department of Customs, Vietnam imported pharmaceuticals mainly from the markets of France, the US, Germany, and India in the first 8 months of 2024.

According to preliminary statistics of General Department of Customs, turnover import Pharmaceutical imports in August 2024 reached 349.63 million USD, down 10.9% compared to July 2024 but up 18.7% compared to August 2023. In the first 8 months of 2024, pharmaceutical imports reached nearly 2.75 billion USD, up 25.2% compared to the first 8 months of 2023.

Pharmaceutical import turnover in August 2024 reached 349.63 million USD, down 10.9% compared to July 2024. Photo: MH

Major markets offer pharmaceutical for Vietnam in the first 8 months of this year are France, the US, Germany, and India; in which the largest import turnover is from the French market, reaching 365.21 million USD, up 22% over the same period in 2023, accounting for 13.3% of the total import turnover of this group of goods in the country; followed by the US market reaching 294.31 million USD, up 17.7% over the same period, accounting for 10.7% of the proportion; the German market reached over 241.87 million USD, up 19.2% over the first 8 months of 2023, accounting for 8.8% of the proportion; the Indian market reached over 220.78 million USD, up 36.4% over the same period last year, accounting for 8% of the proportion.

Imports from the Italian market increased by 43% over the same period, reaching 189.28 million USD, accounting for 6.9% of the proportion. Imports from the Irish market reached 133.165 million USD, up 36.02% over the same period in 2023, accounting for 4.85% of the proportion.

In general, pharmaceutical imports from most markets in the first 8 months of 2024 increased in value compared to the same period in 2023.

Pharmaceutical imports in the first 8 months of 2024. Source: Data from the General Department of Customs

To reduce the value of pharmaceutical imports and promote the development of domestic pharmaceutical production, the Ministry of Health of Vietnam is focusing on improving the capacity of research and application of new drug production technology, promoting the development of clinical pharmacy, strengthening supervision of safe and rational drug use... aiming to become a new center of science and medical innovation in the region.

In the National Strategy for the Development of the Vietnamese Pharmaceutical Industry to 2023 and Vision to 2045, attention is being paid to improving research capacity and applying available technology to produce generic drugs and drugs with new and modern dosage forms, aiming to become a center for manufacturing and receiving technology transfer of generic drugs in the ASEAN region.

By 2030, 100% of drugs will be proactively and promptly supplied for disease prevention and treatment needs; ensuring drug security, meeting national defense and security requirements, disease prevention and control, overcoming the consequences of natural disasters, catastrophes, public health incidents and other urgent drug needs.

Domestically produced drugs strive to meet about 80% of usage demand and 70% of market value; continue to strive to achieve the goal of producing 20% of raw material demand for domestic drug production...

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