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Life Sciences Exports Continued Growth
According to the figures released by the CSO in August, total Life Sciences industry merchandise exports jumped to €27.79 billion for the first 5 months of 2011, up 8.73% from the same period in 2010.Life science products (medical and pharmaceutical products, chemicals and medical device products) constitute a large proportion of overall merchandise exports. Life Science products accounted for 66.90% of total merchandise exports.
| Exports (€ 000) |
|
| |
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| Jan-May 2010 | Jan-May 2011 | |
| Chemicals | €9,522,103 | €10,140,489 | |
| Pharmaceuticals | €12,315,815 | €13,821,791 | |
| Medical Devices | €1,704,716 | €1,832,829 | |
| Total | €23,542,634 | €25,795,109 | |
| Source: CSO External Trade figures, release August 23, 2011 | |||
Where are the Products Going?
As shown in the table below, the top 10 export destinations for life science products account for 87.67% of total Life Science exports.| Exports (€ 000) | Jan-May 2010 | Jan-May 2011 | % Change |
| United States | €6,069,198 | €7,666,004 | +20.83% |
| Belgium | €5,752,516 | €5,622,679 | -2.31% |
| Great Britain | €2,117,989 | €2,015,004 | -5.11% |
| France | €1,132,199 | €1,422,512 | +20.41% |
| Germany | €1,351,414 | €1,385,650 | +2.47% |
| Switzerland | €1,339,377 | €1,342,670 | +0.25% |
| Spain | €1,131,736 | €970,551 | -16.61% |
| Italy | €758,183 | €864,290 | +12.28% |
| Netherlands | €488,123 | €582,321 | +16.18% |
| Japan | €484,782 | €527,372 | +8.08% |
| Source: CSO External Trade figures, release August 23, 2011 | |||
As can be seen in the table below, the BRIC countries export potential is far from being maximised by Life Science exporters. These countries offer growth potential for Irish exporters.
| Exports (€000) | Jan-May 2010 | Jan-May 2011 | % Change | % of Total Life Sciences Exports |
| China | €160,939 | €168,025 | +4.22% | 0.65% |
| Brazil | €68,303 | €83,440 | +18.14% | 0.32% |
| India | €23,086 | €21,176 | -9.02% | 0.08% |
| Russia | €51,845 | €70,816 | +26.79% | 0.27 |
Source: CSO External Trade figures, release August 23, 2011 | ||||
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