Turkey's Pharmaceutical Industry Export Drive Continues
Foreign trade data for Turkey's pharmaceutical industry, which exports to 160 countries including the United States and European Union member states, for 2015 have been announced.
Turkey's pharmaceutical industry, which exports to 160 countries including members of the United States and European Union, released its foreign trade data for 2015.
In 2015, while Turkey's total exports declined by 8.7%, pharmaceutical exports increased by 9.8% to reach USD 939 million. Pharmaceutical imports decreased by 2.6% to USD 4.6 billion.
Thus, the ratio of exports to imports reached its highest level in the 2010-2015 period at 20.3%, and the pharmaceutical industry made a positive contribution to reducing the current account deficit.
Turkey's pharmaceutical industry, which ranks among the country's leading sectors with its established history, long-standing production culture, high value-added structure based on advanced technology, and experienced workforce, drew attention with the momentum it achieved in exports.
Over the past 5 years, Turkey's pharmaceutical industry increased its exports by 53.4%, while pharmaceutical imports declined by 3.5%. In the same period, Turkey's total exports grew by 26%.
The pharmaceutical industry's exports, showing growth approximately twice higher than total exports, benefited from joint efforts by the public and industry sectors.
The foreign trade deficit in pharmaceuticals decreased by 11.8%. The pharmaceutical industry's contribution to Turkey's exports increased from 0.54% to 0.65%.
In 2010, the Pharmaceutical Industry Employers' Association (İEİS), which identified exports and R&D as strategic areas, focused on enhancing the industry's R&D competence to produce higher value-added products, particularly in biotechnology, and to attain the position of a global pharmaceutical manufacturer and exporter.
Within this scope, with the participation of exporting companies that are both members and non-members of İEİS, the Turkey Pharmaceutical Exporters Platform was established in 2012. With 31 members, the Platform takes steps toward promoting the industry in target foreign markets and increasing export opportunities.
İEİS General Secretary Turgut Tokgöz, speaking on behalf of the Platform whose coordination he oversees, stated that pharmaceutical companies continue their export initiatives with determination.
Tokgöz said in his statement, "With strategic support provided to the pharmaceutical industry, the sector will become a global force and will increase its contribution to our country's exports."
