July 26, 2005
While Taiwan's imports of pharmaceutical products are down slightly in the first six months of the year, its exports of drugs have risen over 90% in this period, according to the Industrial Economics and Knowledge Center of the Industrial Technology Research Institute.
In the first six months of the year, imports of pharmaceuticals declined slightly by 2.3% on the year to
NTD 15.68 billion, while Taiwan's drug exports climbed 93.8% on the year to
NTD 1.24 billion. Taiwan exported
NTD 640 million in the first half of 2004. The growth in exports this year is due chiefly to increased orders from Australia and Japan.
Japan, which has always been one of Taiwan's main export markets for drugs, has relaxed import regulations for pharmaceutical products. Taiwan's pharmaceutical companies see this decision further boosting Taiwan's drug exports.
The production value of pharmaceutical materials in Taiwan has grown 9.9% on the year to
NTD 4.33 billion in the first six months of the year. Production of Chinese medicine has also increased in this period. This value has risen 7.6% on the year to
NTD 2.41 billion.
Due to increased business for medical biotechnology and biotechnology services enterprises, Taiwan's emerging biotechnology sector is projected to see its production value go up 5% on the year to
NTD 21.2 billion for the whole of 2005.
(Central News Agency)
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