EU exports of medicinal and pharmaceutical products rise by 13.5% in 2024

In 2024, the European Union recorded a significant increase in exports of medicinal and pharmaceutical products, rising by 13.5% compared to the previous year. According to Eurostat data, total exports in this category reached €313.4 billion. Imports showed only a slight increase of 0.5%, amounting to €119.7 billion.

As a result, the EU registered a record trade surplus of €193.6 billion in medicinal and pharmaceutical products—the highest level to date.

Germany remained the EU’s leading exporter to non-EU countries in this sector, with exports valued at €67.9 billion. Ireland followed with €56.6 billion, and Belgium with €41.4 billion. On the import side, Germany also topped the list of largest importers from non-EU countries (€23.0 billion), followed by Belgium (€21.3 billion) and the Netherlands (€14.7 billion).

The United States was the largest recipient of EU medicinal and pharmaceutical exports in 2024, accounting for 38.2% of exports to non-EU countries, or €119.8 billion. Switzerland and the United Kingdom followed with €51.3 billion (16.4%) and €18.2 billion (5.8%), respectively.

Imports into the EU largely came from the same three partners. The United States was the top supplier, contributing 38.3% of imports (€45.9 billion), followed by Switzerland with 32.6% (€39.1 billion) and the United Kingdom with 7.3% (€8.7 billion).

The data underscore the EU’s continued strength in the global pharmaceutical market, driven by high-value exports and a relatively moderate level of imports.

Source: EUROSTAT