Turkish medicine sector grows by 2 fold in last 10 years

According to IKMIB, Turkey's exports of medicines went up 58.6 percent in the last 5 years.

Turkish medicine sector grows by 2 fold in last 10 years

World Bulletin / News Desk

One of the most important sub-sectors of the chemical industry, the Turkish medicine sector grew by 2 fold in the last decade and reached a market value of 15 billion Turkish liras (TL).

In a written statement released Tuesday, the Union of Istanbul Exporters of Chemical Substances and Products (IKMIB) said that the Turkish medicine sector began focusing on exports after costs of production increased and the prices of medicines in Turkey went down.

According to IKMIB, Turkey's exports of medicines went up 58.6 percent in the last 5 years.

In 2011, most Turkish medicines were exported to Germany, Iraq and Switzerland. Other countries receiving most Turkish medicine exports are Britain, Turkish Republic of Northern Cyprus (TRNC), Slovenia, Belgium, Azerbaijan-Nakhchevan, United States and Algeria.

The Turkish medicine sector earned 512.1 million USD from exports in 2011, the IKMIB said.

There are around 300 medicine companies in Turkey. Turks consume around 1.6 billion boxes of medicines per year.

Last Mod: 21 Ağustos 2012, 13:34
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