EU's exports of medicinal, pharma products up by 13.5 per cent in 2024

Brussels, April 15: In 2024, EU exports of medicinal and pharmaceutical products increased by 13.5 per cent compared with 2023, reaching Euro 313.4 billion. At the same time, imports only recorded a modest increase of 0.5 per cent, amounting to Euro 119.7 billion, according to figures published by Eurostat, the statistical office of the European Union.

Consequently, in 2024, the EU's trade surplus in medicinal and pharmaceutical products came to a total of Euro 193.6 billion, marking a record high.

Last year, Germany was the EU's largest extra-EU exporter of medicinal and pharmaceutical products (Euro 67.9 billion), followed by Ireland (Euro 56.6 billion) and Belgium (Euro 41.4 billion).

The largest extra-EU importers were Germany (Euro 23.0 billion), Belgium (Euro 21.3 billion) and the Netherlands (Euro 14.7 billion).

The main destination for extra-EU exports of medicinal and pharmaceutical products in 2024 was the United States (38.2 per cent of all exports outside the EU; Euro 119.8 billion), followed by Switzerland (16.4 per cent; Euro 51.3 billion) and the United Kingdom (5.8 per cent; Euro 18.2 billion).

Most of the imports to the EU came from the United States (38.3 per cent; Euro 45.9 billion), Switzerland (32.6 per cent; Euro 39.1 billion) and the United Kingdom (7.3 per cent; Euro 8.7 billion). (ANI/ WAM)

Reader Comments

M

Maria K.

This is fantastic news! The EU's pharmaceutical industry is clearly thriving. As someone working in healthcare, I'm proud to see our medicines reaching more people worldwide. 💊

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Thomas R.

Interesting to see Germany leading both exports and imports. Shows how interconnected the global pharma market is. But I wonder if we're too dependent on US and Swiss imports?

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Liam P.

That trade surplus is massive! €193 billion could fund so much healthcare innovation. Hope some of that gets reinvested into R&D for rare diseases.

S

Sophie M.

While the numbers are impressive, I hope this growth isn't coming at the expense of affordable medicines for EU citizens. Pharma profits shouldn't outweigh patient needs.

J

Jamal B.

Ireland punching above its weight again! €56.6 billion in exports is huge for a country of its size. The pharma sector has been a real success story there.

E

Elena T.

The US being both our biggest export market and import source shows how complex global pharma supply chains are. Makes you think about supply security though... 🤔

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