El Salvador: Pharmaceutical Exports Booming

Next year the sector expects to exceed the 12% growth in sales abroad seen between 2014 and 2015, by going to new markets in Africa and South America.

On top of the 12% growth in the export of medicines and other pharmaceutical products there was also greater participation in government procurements, which according to the Chemical Pharmaceutical Industry Association of El Salvador (Inquifar), "... grew by 40% in the last year".

Data from Inquifar indicates that the export value in 2015 amounted to $124 million, with the United States being the main market, with $47 million, followed by Canada, with $7.6 million and Mexico with nearly $2 million.

Inquifar's president, Carmen Estela Pérez said in an article on Elsalvador.com that "... pharmaceutical sector exports grew by 12% in 2015 compared to 2014 (an additional $ 13 million). 70% of exports were products for therapeutic and prophylactic use. Perez said the pharmaceutical industry plans to invest $80 million over the next five years. In addition it will explore markets such as Algeria, Jordan, Bolivia and Peru in order to export to them."

Source: Elsavaldor.com