Health & Beauty

According to statistics from China Customs, in 2022, the total import and export volume of pharmaceutical and health products in China reached $220.788 billion, a year-on-year decrease of 7.09%. Among them, the export value was 129.549 billion US dollars, a year-on-year decrease of 13.67%; The import volume reached 91.239 billion US dollars, a year-on-year increase of 4.19%.

The COVID-19 has affected the overall trend of China's pharmaceutical foreign trade in the past three years. In 2022, epidemic prevention and control entered normalization, and the global market demand for epidemic prevention products significantly declined. Products with a significant decline mainly include human vaccines, diagnostic reagents, masks, protective clothing, etc. According to customs data, excluding the four categories of products mentioned above, the export volume of pharmaceutical and health products in China increased by 6.46% year-on-year in 2022, and the total import and export volume increased by 5.43%, continuing to maintain a steady development trend.

With the decline in the export of epidemic prevention products, Western medicine has returned to the top category of products in terms of export value. In 2022, the export volume of Western medicine, medical devices, and traditional Chinese medicine accounted for 49.64%, 45.97%, and 4.39%, respectively. From the perspective of segmented varieties, Western medicine raw materials, hospital diagnosis and treatment equipment, and health rehabilitation supplies are the top three categories of export commodities, with a total export of 92.511 billion US dollars, accounting for 71.41%.

Traditional Chinese Medicine

According to customs data, in 2022, China's total import and export of traditional Chinese medicine products reached 8.569 billion US dollars, a year-on-year increase of 10.85%. Among them, the export value was 5.689 billion US dollars, a year-on-year increase of 13.97; The import volume reached 2.88 billion US dollars, a year-on-year increase of 5.15%.

From a segmented perspective, plant extracts, which account for over 60% of export value, continue to rise rapidly, with a year-on-year increase of 16.79%; The export volume of traditional Chinese patent medicines and simple preparations and health care products increased by more than 20% year on year, 23.61% and 22.51% respectively.

Western medicine

In 2022, the total import and export volume of Western medicine products in China reached 114.739 billion US dollars, a year-on-year increase of 3.55%. Among them, the export value was 64.311 billion US dollars, a year-on-year decrease of 5.01%; The import volume reached 50.428 billion US dollars, a year-on-year increase of 16.99%. The export value of Western medicine raw materials and preparations reached a historic high, with a total export value of 51.786 billion US dollars, a year-on-year increase of 24.04%; The export volume of preparations reached 6.605 billion US dollars, a year-on-year increase of 9.95%.

The overall export of Western medicine showed a slight decline, mainly due to a significant decline in exports of human vaccines. Its export value decreased from $15.64 billion in 2021 to $993 million in 2022, a significant decrease of 93.65%. Medical devices

In 2022, the total import and export volume of medical device products in China reached 97.479 billion US dollars, a year-on-year decrease of 18.16%. Among them, the export value was 59.549 billion US dollars, a year-on-year decrease of 23.04%; The import volume was 37.93 billion US dollars, a year-on-year decrease of 9.1%.

The export value of diagnostic reagents, masks, protective clothing and other epidemic prevention products in medical devices decreased by 16.9%, 72.94%, and 50.42% in 2022, respectively, which is the main factor leading to a decrease in the overall export value of medical devices. In addition, the export value of massage equipment products, which account for a large proportion of exports, also decreased from 6.395 billion US dollars to 5.073 billion US dollars, a decrease of 20.67%.

Key market performance

From a regional perspective, the European Union, the United States, and ASEAN are the top three trading partners in China's foreign trade of pharmaceutical and health products in 2022.

EU market

In 2022, the import and export trade volume of China's pharmaceutical products to the EU market was 70.731 billion US dollars, a year-on-year decrease of 3.39%. Among them, the export value was 28.952 billion US dollars, a year-on-year decrease of 10.66%; The import value was 417.79 US dollars, a year-on-year increase of 2.38%.

US market

According to customs data, in 2022, China's import and export trade of pharmaceutical products to the United States reached $37.534 billion, a year-on-year decrease of 10.25%. Among them, the export value was 21.334 billion US dollars, a year-on-year decrease of 21.21%; The import volume reached 16.2 billion US dollars, a year-on-year increase of 9.86%.

ASEAN market

According to customs data, in 2022, China's import and export volume of pharmaceutical products to the 10 ASEAN countries was 19.906 billion US dollars, a year-on-year decrease of 11.11%. Among them, the export value was 13.678 billion US dollars, a year-on-year decrease of 18.73%; The import volume reached 6.228 billion US dollars, an increase of 11.91% year-on-year.

"The Belt and Road" market

In 2022, China's import and export trade volume of pharmaceutical products to the "the Belt and Road" market will be US $59.635 billion, down 15.39% year on year. Among them, the export value was 44.722 billion US dollars, a year-on-year decrease of 20.54%; The import volume was 14.914 billion US dollars, a year-on-year increase of 5.03%.

RCEP market

According to customs data, in 2022, the import and export trade volume of China's pharmaceutical products to the member markets of the Regional Comprehensive Economic Partnership Agreement (RCEP) was 44.518 billion US dollars, a year-on-year decrease of 2.06%. Among them, the export value was 29.245 billion US dollars, a year-on-year decrease of 6.3%; The import volume reached 15.273 billion US dollars, a year-on-year increase of 7.25%.