Medicines top Aussie export
February 6, 2012
THE Australian medicines industry
was the country’s most valuable
hi-tech exporter in 2011, according
to new figures released by the
Australian Bureau of Statistics today.
Exports of pharmaceutical and
medicinal products were valued at
$3.74 billion - significantly more
than exports for the car industry
($2.54 billion) and the wine
industry ($2.03 billion).
However pharmaceutical exports
dropped when compared to 2010,
when they were valued at almost
$4 billion for the year.
Medicines Australia ceo Brendan
Shaw said the figures showed the
industry had held up well in terms
of exports, in the face of the
challenging global economy.
“These numbers underline the
significant contribution Australia’s
medicines industry continues to
make to the economy,” he said.
There’s also potential to build on
this high-tech export capability,
with Shaw saying that ‘with
revamped policy settings and
incentives from Government we
could build the Australian
medicines industry into one of our
key innovative export industries for
the future”.
Major export markets for the
industry, which employs about
14,000 Australians, include Asia,
South Africa, Europe and NZ.
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