According to the China Chamber of Commerce for Import and Export of Medicines and Health Products, the country’s total foreign trade of medicines and health products surged 30.1% in the first quarter of 2008, reaching US$10,880 million. Among the total, import was US$2,350 million, up 26.0%, while export grew 32.8% to US$7,030 million.

Asia, EU and North America continue to be China’s largest regional trading partners for such products accounting for 38%, 35% and 19% of total respectively. USA, Japan, Germany, India and South Korea are the five leading national trading partners of China in the area of medicines and health products in the first quarter.

Foreign trade of biochemical drugs and Western medicine formulations grew the sharpest in the first quarter at 35.9% and 51.7% respectively.

Prices of major APIs continue to be at high levels due to various restrictions and higher environmental standards imposed by the Chinese government on industrial enterprises in five provinces surrounding Beijing to prepare for the 2008 Beijing Olympics. Supply for some products has been short.

The chamber expects the foreign trade of medicines and health products to grow steadily at around 20% in 2008.