Between 2002 and 2022, EU exports of medicinal and pharmaceutical products to countries outside the EU grew considerably stronger than imports.

Exports increased from €50 billion in 2002 to €287 billion in 2022. Compared with 2021 (€235 billion), the 2022 total represented an increase of 22%. Imports rose from €32 billion to €112 billion between 2002 to 2022, rising almost 12% from 2021 (€100 billion) to 2022. 

With extra-EU exports growing more than imports, the EU’s trade surplus in medicinal and pharmaceutical products reached €175 billion, the highest value since 2002 (€18 billion). 

Source dataset: ds-018995 

Largest exporters and importers were Germany and Belgium

In 2022, Germany was the EU’s largest extra-EU exporter (€68 billion), followed by Belgium (€56 billion), Ireland (€42 billion), the Netherlands and Italy (each €22 billion). 
The largest extra-EU importers of medicinal and pharmaceutical products were Belgium (€21 billion), followed by Germany (€19 billion), the Netherlands (€18 billion), Spain (€10 billion) and Italy (€9 billion).

USA and Switzerland remained main EU trade partners 

The main destination of extra-EU exports of medicinal and pharmaceutical products in 2022 was the United States, accounting for almost a third (33%) of these exports, followed at a distance by Switzerland (13%), the United Kingdom (7%), China and Japan (both 6%).

Imports of these products to the EU came mainly from the United States, accounting for 35% of all EU imports of these products, then Switzerland (34%), United Kingdom (9%) followed by China (5%) and Singapore (4%).

Source dataset: ds-018995 

Regarding trade between the EU and the United States, between 2002 and 2022, EU exports of medicinal and pharmaceutical products grew by more than 9% per year, and EU imports grew by almost 7% per year. During this period, the trade balance has been in favour of the EU, registering a surplus of €54 billion in 2022.

As for Switzerland, between 2002 and 2022, EU exports grew by almost 10% per year, and imports grew by almost 8% per year. Over the same period, the EU had a trade deficit that totalled -€8 billion in 2009, 2012, 2019 and -€9 billion in 2021. In 2022, a reduction in this deficit was recorded, with the trade balance reported as -€1 billion.