According to Chinese Customs statistics, the total export sales of APIs or bulk drugs by China jumped 35.9% in the first quarter of 2008 to US$4,133 million, representing 58.8% of China’s total exports of medicines and health products in the period. Based on current trends, the China Chamber of Commerce for Medicines and Health Products estimated the annual growth of Chinese API exports will exceed 20% in 2008.

China’s import of APIs in the first quarter was US$1,602 million, up 16.9% and accounted for 41.6% of China’s total medicine and health product imports in the period.

USA, India, Germany, Japan and the Netherlands were the leading five export markets of Chinese APIs in the first quarter. However, the exports to these markets except Japan fell in the first quarter, while those to some developing countries grew.

Export prices continued to rise in the first quarter with anticipated shorter supply for some products as a result of more stringent environmental standards, falling export rebates, appreciating Chinese currency, and rising energy and raw material costs. Average export price of vitamin C jumped nearly 100%, while that of Paracetamol grew 15.2% and those of older products such as tetracycline and chloramphenicol all rose over 46%.