(MENAFN- The Peninsula) Qatar has witnessed a huge jump in the imports of medicinal and pharmaceuticals products due to falling prices.
The total value of imports of medicinal and pharmaceutical products jumped 20.5 percent to QR424m in the third quarter (July-September) of 2014 compared to QR352m in the second quarter in the same year, according to the Quarterly Bulletin on foreign merchandise issued by the Ministry of Development Planning and Statistics recently.
The decline in the prices of medicines is the result of a GCC decision to unify import prices in member countries which came into effect in Qatar in the last week of September 2014.
According to the Supreme Council of Health (SCH), 657 drugs for chronic heart, endocrine, muscular, rheumatism, dermatology and digestive system diseases are included in the first phase of implementation of unified prices.
Prices of several commonly used medicines have fallen by five to 70 percent, bringing joy to customers who had been complaining about high prices in the country.
"Some medicines went out of stock due to a surge in the demand because of the falling prices. But that was a short-term phenomenon and now there is no shortage of medicines," said a staff of a private pharmacy in Najma.
Medicine imports are likely to see upward momentum as prices of more medicines are expected to fall this year.
The SCH will announce the second list in the first quarter this year which will include 652 drugs while the third list will include seven disease groups, including cancer, obstetrics and gynaecology.
Imports have also witnessed an increase in year-on-year basis - the total value up by about nine percent to QR424m in the third quarter of 2014 compared to QR388m in the corresponding period in 2013.
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