In 2023, EU exports of medicinal and pharmaceutical products to countries outside the EU went down by -3.5% when compared with 2022. On the other hand, EU imports increased by 6.1% in 2023.
Figures released by Eurostat, the statistical office of the European Union showed that in 2023, exports reached pound 277 billion, while imports stood at pound 119 billion. Consequently, the EU’s trade surplus in medicinal and pharmaceutical products amounted to pound 158 billion, marking the second-highest figure ever recorded, following the peak in 2022 at pound 174 billion.
In 2023, Germany was the EU’s largest extra-EU exporter (pound 62 billion), followed by Belgium (pound 44 billion) and Ireland (pound 37 billion), all three registering decreases when compared with 2022.
The largest extra-EU importers of medicinal and pharmaceutical products were Belgium (pound 26 billion), followed by Germany (pound 20 billion) and the Netherlands (pound 16 billion)
The main destination of extra-EU exports of medicinal and pharm
aceutical products in 2023 was the United States, accounting for a third (33.2%; pound 92 billion) of these exports, followed by Switzerland (15.5%; pound 43 billion) and China (7.7%; pound 21 billion).
Imports of these products to the EU came mainly from the United States, accounting for 39.5% of all EU imports of these products, then Switzerland (32.3%) and the United Kingdom (6.9%
Source: Emirates News Agency