Pharmaceutical Industry Target Aims to Overcome Challenges

The import of Indonesian pharmaceutical products experienced a continuous rise, reaching its highest point during the second year of the COVID-19 pandemic. A similar trend is observed in the trade balance deficit.

Fatkhul Maskur

7 Okt 2023 - 22.50
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Pharmaceutical Industry Target Aims to Overcome Challenges

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Bisnis, JAKARTA — The Indonesian government aims to establish the country as a manufacturing hub for the pharmaceutical and medical device industries, but it currently relies heavily on imported products. 

Imports of pharmaceutical products in Indonesia have been on the rise, peaking during the second year of the Covid-19 pandemic. The country faces a trade deficit in pharmaceutical products, which has increased over the years.

In 2019, imports of pharmaceutical products (HS30) were valued at $912.23 million, and this increased to $1.16 billion in 2020. The value of imports nearly quadrupled in 2021, reaching $4.36 billion. 

In 2022, imports were recorded at $1.24 billion, showing a significant decrease from the previous year but still higher than in 2020. Regarding the trade balance, the pharmaceutical products sector experienced a growing deficit. 

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Editor: Ibeth Nurbaiti
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