Vietnam's pharmaceutical imports saw an annual surge of over 10 per cent or US$200 million to US$2.144 billion from the beginning of the year to September 15, according to figures released by the General Department of Vietnam Customs.

During the nine-month period, several markets have enjoyed impressive growth in import turnover, with many reaching over hundreds of millions of US$ in the process.

France was the nation’s largest drug supplier with turnover hitting nearly US$265 million, a sharp rise of over 29 per cent in comparison to last year’s corresponding period. 

The import of pharmaceutical products also accounts for more than 26 per cent of the country’s total import turnover of goods from the French market. 

Simultaneously, drug imports from Germany saw an annual surge of US$10 million to reach approximately US$215 million. 

Other major Asian drug suppliers to Vietnam saw high growth in turnover, including the Republic of Korea, India, Japan, Thailand, China, and Singapore. Most notably, imports from India were recorded at over US$163 million. 

Elsewhere, China earned nearly US$25 million from exporting pharmaceutical products to Vietnam with drug materials fetching a turnover of close to US$169 million. 

According to the Business Monitor International, the country’s overall pharmaceutical market is predicted to reach US$6.5 billion this year and US$16.1 billion by 2026.