The data on Indonesia's exports of basic pharmaceutical products and pharmaceutical preparations to Japan shows a general upward trend from 2013 to 2023, with the value standing at $168.73 million in 2023. There have been fluctuations year-on-year, but a gradual increase is observed. Specifically, from 2021 to 2022, there's a 6.53% drop, followed by a recovery of 2.68% in 2023. The compound annual growth rate (CAGR) over the past five years is 3.31%, suggesting moderate but steady growth in exports.
Looking ahead, forecast data indicates continued growth, albeit at a slower average annual rate with a five-year CAGR of 1.77% and a total growth projection of 9.18% by 2028. This signals a stabilizing yet positive outlook for Indonesia's pharmaceutical exports to Japan.
Future trends to watch for:
- Monitoring the stabilization of global supply chains post-pandemic, which could influence export volumes and values.
- Potential regulatory changes in Japan impacting pharmaceutical imports.
- Technological advancements in pharmaceutical manufacturing in Indonesia improving product quality and competitiveness.
- Evolving trade relations and economic policies between Indonesia and Japan.
