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

Brussels: 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).