Where is trade most likely to be disrupted in pharma from the Russian invasion of Ukraine?
The proportion of pharmaceutical companies hiring for cloud related positions rose to a year-high in August 2021, with 42.7% of the companies included in our analysis recruiting for at least one such position.
The knock-on effects of the war has large implications for trade.
The Russian invasion of Ukraine has had large knock-on effects on global trade. Energy prices have spiked, and the sharp rise in wheat has prompted fears of a food crisis.
Although rising energy prices already have a knock-on effect on many industries, oil, gas and wheat aren't the only items traded out of Russia and Ukraine. Many nearby nations will also be feeling direct supply chain disruption in other industries, including the pharmaceutical industry.
With Ukraine, trade has become more difficult as supply lines have been blocked, and many industries have struggled due to bombings and a lack of labour as people have fled the country or joined the military.
Many countries and companies have also ceased trading with Russia, either due to sanctions or business choices. However, not all countries will have ceased trading.
What are the main commodities traded with Russia and Ukraine in the pharmaceutical industry?
Not including trade between the two nations, within the drinks manufacturing sector, around 0.1% of global imports of Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. Those in the form of transdermal admin. Systems) or packed for retail sale comes from Ukraine.
Looking at global exports to Russia, the most-traded commodities are Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. Those in the form of transdermal admin. Systems) or packed for retail sale (2.6%).
That's followed by Blood, human or animal, antisera, other blood fractions and immunological products; immunological products, put up in measured doses or in forms or packings for retail sale (1.4%), and Vaccines; for human medicine(0.4%).
Which countries' pharmaceutical industry could be most affected by the war?
When it comes to the pharmaceutical industry, the country that has the largest proportion of imports from Ukraine is Uzbekistan (6.8% of the country’s pharmaceutical industry imports worldwide)..
That's followed by Georgia (4.9%), and Rep. Of Moldova(4.6%).
From Russia, the countries that import the most are Uzbekistan (19%), Kyrgyzstan (15%), and Belarus (13.5%).