Big Data for Export of Traditional Chinese Medicine

According to the statistics of the Medical Insurance Business Association, in the first three quarters of 2017, Chinese medicine was exported to 118 countries and regions, mainly to the United States, Japan, Hong Kong, ASEAN and South Korea.

The United States:

In the past, Japan was the largest market for Chinese herbal medicine exports, while the United States was only the second or the third largest market, but it had a relatively high growth in the past two years. However, in the first three quarters of 2017, the U.S. market became China's largest export market of Chinese medicine. In the first three quarters of 2017, China's exports to the United States amounted to 425 million U.S. dollars, taking up 16.36% of the total exports of Chinese medicine. Among them, the exports of Chinese herbal medicines and nutraceuticals to the United States saw a significant year-on-year increase over the same period of last year.

Japan:

Chinese exports to the Japanese market in the first three quarters increased by 36.40% over the same period of last year with an export volume of 370 million U.S. dollars, and a slight increase of 3.35% over the same period. China's exports to Japan are mainly extractive and Chinese herbal medicines of which Japan's exports in the first three quarters increased in terms of both the quantity or amount of exports.

Hong Kong:

As the third largest market for mainland Chinese medicine exports, its exports in the first three quarters were 340 million U.S. dollars, down by 15.30% on a year-on-year basis. The role of Hong Kong as a transit point for export trade is still on the decline. 

South Korea:

In the first three quarters of 2017, China's export of Chinese medicine to South Korea was 150 million US dollars, which was down 13.47% from the same period. China's exports to South Korea are mainly extractive of Chinese herbal medicines and herbal extracts. In the first three quarters, the export volume of Chinese herbal medicines and processed pieces to South Korea amounted to 73.3955 million U.S. dollars, down 20.63% from the same period last year.

Europe:

In the first three quarters of 2017, the export volume of Chinese medicine to Europe was 444 million U.S. dollars, which slightly dropped by 1.66% over the same period. China's exports to Europe are mainly extractive, and some of the major markets for the export of traditional Chinese medicine are Germany, Spain and France.