Indonesia's exports of Basic Pharmaceutical Products and Pharmaceutical Preparations to Kenya have been on a downward trend over the years. In 2023, the export value stood at 0.53568 Million US Dollars. The year-on-year variation for 2023 showed a decline of 7.76%. Over the past two years, the year-on-year variation was -15.76% in 2022 and -2.53% in 2021. The compound annual growth rate (CAGR) over the last five years averaged at -5.29%.
Future trends indicate a continuing decline in exports, with forecasted values showing a compound annual growth rate of -9.13%, equating to a total decrease of 38.04% by 2028. This persistent decrease suggests that Indonesia's pharmaceutical exports to Kenya might face ongoing challenges if no corrective measures are taken.
Future trends to watch for:
- Changes in trade policies between Indonesia and Kenya that could either hinder or bolster export activities - Market conditions and demand for pharmaceutical products in Kenya - Indonesia's ability to remain competitive in the global pharmaceutical market - Regulatory changes and standards in both countries that could impact export-import dynamics - The emergence of new market players or increased competitive pressures from other exporting countries.
