Data from April 2025
Planned article update: April 2026
Highlights
The United States and Switzerland were the EU's main trading partners for medicinal and pharmaceutical products in 2024.
Among the EU countries, Germany was the largest exporter of medicinal and pharmaceutical products to countries outside the EU, in 2024.
This article is part of an online publication providing recent statistics on international trade in goods, covering information on the EU's main partners, main products traded, specific characteristics of trade as well as background information.
Strong growth of trade in medicinal and pharmaceutical products in 2024
Compared to 2023, exports of medicinal and pharmaceutical products in 2024 increased by €37 billion while imports increased by €1 billion (see Figure 1). EU exports increased every year since 2014 with the exception of 2023. With exports increasing more than imports, the trade surplus increased from €58 billion in 2014 to a record high of €194 billion in 2024. Between 2014 and 2024, imports grew by 74% while exports grew by 148%.
The unit value index for EU imports of medicinal and pharmaceutical products rose from 96.1 in 2014 to 110.3 in 2024 (see Figure 2). Exports saw an even stronger increase, climbing from 84.1 in 2014 to 118.8 in 2024. This suggests that the significant growth in exports reflected in Figure 1 was, in part, driven by rising prices.
United States and Switzerland remain the top EU partners
The United States stands out as the EU's main trading partner for medicinal and pharmaceutical products in 2024 (Figure 3). Exports to the United States (38%) were almost a two-fifths of all EU exports and were followed at some distance by Switzerland (16%) and the United Kingdom (6%). Imports to the EU were also dominated by the United States (38%) and Switzerland (33%) followed by the United Kingdom (7%). Since the United States and Switzerland are by far the two largest trade partners, the development of their trade in medicinal and pharmaceutical products with the EU is shown in Figure 4 and Figure 5.
Source: Eurostat (ds-059331)
Trade with the United States and Switzerland between 2014 and 2024
Figure 4 shows the development of trade in medicinal and pharmaceutical products between the EU and the United States from 2014 to 2024. Between 2023 and 2024, imports from the United States decreased by 2.4% while exports increased by 29.6%. This caused the trade surplus to increase from €45 billion in 2023 to a record high of €74 billion in 2024. Measured as average annual growth between 2014 and 2024, exports increased by 14.9% per year and imports increased by 7.7% per year.
Source: Eurostat (ds-059331)
Figure 5 shows the development of trade in medicinal and pharmaceutical products between the EU and Switzerland from 2014 to 2024. Between 2023 and 2024, imports from the Switzerland increased by 7.2% while exports increased by 15.1%. This caused the trade surplus to increase from €4 billion in 2023 to a record high of €12 billion in 2024. Measured as average annual growth between 2014 and 2024, exports increased by 15.1% per year and imports increased by 7.2% per year.
Source: Eurostat (ds-059331)
Trade in medicinal and pharmaceutical products by EU countries
The share of intra EU imports in total (intra + extra) imports of medicinal and pharmaceutical products varied greatly between EU countries in 2024 (Figure 6). For Luxembourg, Lithuania and Estonia it was above 93%, while for Slovenia and Malta it was below 40%. The average for the EU was 69%.
(%)
Source: Eurostat (ds-059331)
The share of intra EU exports in total (intra + extra) exports of medicinal and pharmaceutical products also varied greatly between EU countries in 2024 (Figure 7). For Slovakia, Luxembourg, Czechia and Estonia it was above 80%, while for Denmark, Finland and Slovenia it was below 40%. The average for the EU was 46%.
Source: Eurostat (ds-059331)
Table 1 shows that in 2024, amongst the EU countries, Germany had the highest extra-EU exports (€68 billion) followed by Ireland (€56 billion) and Belgium (€41 billion). Four countries had shares higher than 20% for medicinal and pharmaceutical products in their total extra-EU exports. These were Slovenia (69%), Ireland (42%), Denmark and Belgium (both 25%).
Germany (€23 billion), Belgium (€21 billion), the Netherlands (€15 billion) and Italy (€14 billion) were the largest importers of medicinal and pharmaceutical products from countries outside the EU, in 2024[1]. In 2024, Slovenia (17%), Belgium (12%) and Malta (11%) had the highest shares for medicinal and pharmaceutical products in their total extra-EU imports.
Ireland (€49 billion) and Germany (€45 billion) had the largest extra-EU trade surpluses for medicinal and pharmaceutical products in 2024. Only Romania, Slovakia, Malta, Estonia and Czechia had trade deficits.
Source data for tables and graphs
Data sources
This article is based on data available in the Eurostat COMEXT database for EU EU countries and in the United Nations COMTRADE database for non-EU countries.
A code (such as 'ds-059331') is inserted as part of the source. This code allows the reader to easily access the most recent EU data on the Eurostat website. Note that data on the website is frequently updated and may also be more detailed or have a different measurement unit. It should also be noted that European statistics on international trade in goods are compiled according to the EU concepts and definitions and may, therefore, differ from national data published by EU countries.
Product classification
Division 54 'Medicinal and pharmaceutical products' of the Standard international trade classification revision 4 (SITC Rev. 4), is made up of the sub-groups:
- 5411 'Provitamins and vitamins (not put up as medicaments)';
- 5413 'Antibiotics (not put up as medicaments)';
- 5414 'Vegetable alkaloids (not put up as medicaments)';
- 5415 'Hormones, prostaglandins, thromboxanes and leukotrienes';
- 5416 'Glycosides; glands or other organs; antisera, vaccines;
- 5419 'Pharmaceutical goods, other than medicaments';
- 5421 'Medicaments containing antibiotics';
- 5422 'Medicaments containing hormones, etc., but not antibiotics';
- 5423 'Medicaments containing alkaloids, but not containing hormones etc. or antibiotics';
- 5429 'Medicaments not elsewhere specified'.
Unit of measure
Trade values are expressed in millions (106) or billions (109) of euros. They correspond to the statistical value, i.e. to the amount which would be invoiced in case of sale or purchase at the national border of the reporting country. It is called a FOB value (free on board) for exports and a CIF value (cost, insurance, freight) for imports.
A bias in the geographical allocation of extra-EU flows
Extra-EU imports and exports are reported by the Member State where the customs declaration is lodged, usually the place where the goods cross the EU external frontier (here referred to as the exit/entry Member State). This is not necessarily the Member State of actual import or export. The geographical allocation of an extra-EU flow is biased in the case where the entry/exit Member State is not the actual importing/exporting Member State. In such a case, the extra-EU trade will be allocated to the entry/exit Member State and the actual importing/exporting Member State will report only intra-EU flows with the exit/entry Member State. This issue particularly impacts the extra-EU imports of EU countries having important ports for transshipment of goods like Antwerp in Belgium and Rotterdam in the Netherlands. This is why it is known as the 'Rotterdam effect'.
The United Kingdom is considered as an extra-EU partner country for the EU for the whole period covered by this article. However, the United Kingdom was still part of the internal market until the end of the transitory period (31 December 2020), meaning that data on trade with the United Kingdom are still based on statistical concepts applicable to trade between the EU countries. Consequently, while imports from any other extra-EU trade partner are grouped by country of origin, the United Kingdom data reflect the country of consignment. In practice this means that the goods imported by the EU from the United Kingdom were physically transported from the United Kingdom but part of these goods could have been of other origin than the United Kingdom. For this reason, data on trade with the United Kingdom are not fully comparable with data on trade with other extra-EU trade partners.
Context
Pharmaceutical products are among the most important products within the chemicals sector (SITC section 5). Today, the pharmaceutical sector is extensively regulated at EU level in the dual interest of ensuring the highest possible level of public health and patient confidence in safe, effective and high-quality medicinal products, while continuing to develop a single EU market for pharmaceuticals in order to strengthen the European pharmaceutical industry's competitiveness and research capability.
The most common trade impediments faced by pharmaceutical exporters are a range of burdensome and costly registration, licensing and certification procedures. The EU aims to redress these through its bilateral trade agreements or by tackling individual barriers as part of its market access partnership.
Notes
- ↑ Dutch and Belgian imports can be overestimated due to the so-called "Rotterdam effect" (See section Data sources for more details)