Export Performance of Biopharmaceutical Products in Indonesia during the Covid-19 Pandemic

Abstract

The demand for biopharmaceutical products as herbal products is increasing both in the domestic market and the global market. This study examines the factors that affect the export performance of biopharmaceutical products in Indonesia. The analytical method used is multiple linear regression. The results of the study show that GDP, export prices of biopharmaceutical commodities, and the COVID-19 dummy variable have a significant positive effect on the export performance of Indonesian biopharmaceutical commodities. Meanwhile, the exchange rate variable did not show a significant effect on the export performance of biopharmaceutical commodities. Therefore, the right supply chain structure will encourage the competitiveness of biopharmaceutical commodities in the domestic and global markets, which is also accompanied by product diversification. The fulfillment of national product standardization is also a concern because it is related to the sustainability of marketing biopharmaceutical products in the global market.
Keyword: biopharmaceutical; Covid-19; sustainability; trade