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When looking at world exports of pharmaceutical and medical
equipment/chemicals*, the total export market (by $ value), the
market has increased by 44% between 2010 and 2019, with an average
year-on-year increase of 4% over the ten-year period. Within this
frame, China is the eleventh largest exporter when ranked by value,
representing a 2.4% of total market value with a 6% year-on-year
increase.
The US is the number one partner of pharmaceutical and medical
equipment/chemical from China representing 18.07% of total Chinese
exports. It's no surprise that market analysts are turning to trade
data to assess the potential risks and disruptions to supply chains
in 2020 amidst the coronavirus situation.
Reviewing Chinese exports data to date (January plus February),
and comparing the percentage change of units and values compared to
last year, we can see which commodities are being prioritised and
to who amidst a 4.6% decrease in tonnage exports compared to last
year. Only two subheading (HS4) commodity groups saw any positive
increase in export volumes compared to last year: HS3822
Composite Diagnostic/Laboratory Reagents and
HS4015 Surgical & Medical gloves made of
rubber.
Composite Diagnostic or Laboratory Reagents
(HS3822) had the highest year-on-year growth rate from
3.39K Tons / $38.48M in January plus February 2019 to 4.23K Tons /
$54.74M in 2020 - representing a 24.73% volume change and 42.25
value change.
US is the highest partner YTD ranked by volume, with a 29.13%
increase in volume and 28.68% increase in value
India is second highest partner YTD ranked by volume, with a
53.47% increase by volume and 13.86% increase in value
Turkey is third highest partner YTD ranked by volume, with a
60.46% increase by volume and 87.46% increase in value
Figure 2: YTD (January plus February) 2020 comparison to 2019
ranked by current YTD units (Tons) by trade partner. Source: IHS Markit Global Trade
Atlas
Surgical & Medical Gloves (HS4015) had the
second highest year-on-year growth rate from 6.29K Tons / $35.49M
in January plus February 2019 to 6.72K / $36.95M in 2020 -
representing a 6.72% volume change and 4.12% value change.
US is the highest Partner YTD ranked by volume, with a 1.71%
increase in volume and an 8.32% decrease in value
Japan is the second highest partner YTD ranked by volume, with
a 194.83% increase in volume and a 188.64% increase in value
Canada is the third highest partner YTD ranked by volume, with
a 13.80% increase in volume and a 14.32% increase in value
Figure 3: YTD (January plus February) 2020 comparison to 2019
ranked by current YTD units (Tons) by trade partner. Source: IHS Markit Global trade
Atlas
*This post is based on data from harmonised standard codes:
HS29, HS30, HS38, HS40 and HS90
Posted 29 April 2020 by Jeremy Domballe, Subject Matter Expert, Maritime, Trade & Supply Chain, S&P Global Market Intelligence
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