Turkey and Germany: The Major Medication Importers in Georgia

Around 12,000 tons of medication was imported to Georgia last year, exceeding a total value of $354 million. Geostat, the national statistics service, reported that these figures symbolize an all-time high in terms of absolute figures for medication imports.

The majority of medication imports came in a packed form, including a small proportion in wholesale packages. Turkey and Germany dominate the list of packed medications, with 818 tons and 692 tons, respectively. The third largest importer, Hungary, reached a mere 295 tons. 

Packed Medication Imports:

1. Turkey – 818 tons
2. Germany – 692 tons
3. Hungary – 295 tons
4. France – 157 tons
5. Ireland- 5 tons

Comparatively, unpacked medication imports are much smaller, with India as the largest importer with 96 tons, followed closely by China with 76 tons. The Georgian healthcare market hasn’t experienced much trade with the US, which is considered to be the largest market in the world. The political and economic closeness to the European market is visible in the statistics.

Unpacked Medication Imports:

1. India- 96 tons
2. China – 76 tons
3. USA – 18 tons
4. Spain – 16 tons
5. Latvia – 3 tons

Over the past few years, the Georgian healthcare market has experienced strong double-digit growth rates and is forecasted to reach 4.8 billion GEL in 2021. Growth is visible in all sectors, with the pharma industry accounting for the largest increase with 43%.

Photo source: vipmed.ge

By Benjamin Music