UK Pharma Exports rose 8% In 1994

UK pharmaceutical exports reached a value of just under L4 billion ($6.25 billion) in 1994, an increase of 8% over the previous year and the seventh successive annual advance, according to the Association of the British Pharmaceutical Industry.

The UK's positive trade surplus also increased for the seventh successive year, to L1.69 billion ($2.66 billion), placing the sector third among the UK's leading exporters, behind petroleum products and power-generating machinery. However, the rate of growth of the surplus was curbed by the rise in pharmaceutical imports, which reached L2.28 billion ($3.6 billion) last year, an advance of L271 million or 13% over the previous year.

46.8% of the export total in 1994 went to European Union countries, and sales to western Europe rose 9% to L2.14 billion, although imports from these countries were up 13% at L1.93 billion (L1.45 billion from former European Community countries and L483 million from other western European nations). Exports to eastern European countries rose 22% to L134 million, and the ABPI singles out Russia as a particular success, with exports more than doubling over the 12-month period, from L12 million to L26 million.