Australian pharma industry tops hi-tech exporters list
New export figures published by the Australian Bureau of Statistics reveal that the Australian medicines industry was the nation's most valuable hi-tech exporter in 2011.
According to the Australian Bureau of Statistics, exports of pharmaceutical and medicinal products were worth A$3.744 billion ($4.03 billion) in 2011 compared with A$3.998 billion in 2010, down 6.4%. Exports for the car industry in 2011 were A$2.539 billion, and for the wine industry A$2.034 billion.
Trade group Medicines Australia chief executive Brendan Shaw said the Australian pharmaceutical industry's exports had held up well in the face of a challenging global economy, noting: 'The latest ABS data shows that pharmaceutical exports have remained more or less flat, despite an exceptionally tough global market. These numbers underline the significant contribution Australia's medicines industry continues to make to the economy.'
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