EU's medicinal, pharmaceutical products exports reached €277 bn, imports stood at €119 bn in 2023

Brussels [Belgium], April 28: 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 €277 billion, while imports stood at €119 billion. Consequently, the EU's trade surplus in medicinal and pharmaceutical products amounted to €158 billion, marking the second-highest figure ever recorded, following the peak in 2022 at €174 billion.
In 2023, Germany was the EU's largest extra-EU exporter (€62 billion), followed by Belgium (€44 billion) and Ireland (€37 billion), all three registering decreases when compared with 2022.
The largest extra-EU importers of medicinal and pharmaceutical products were Belgium (€26 billion), followed by Germany (€20 billion) and the Netherlands (€16 billion)
The main destination of extra-EU exports of medicinal and pharmaceutical products in 2023 was the United States, accounting for a third (33.2%; €92 billion) of these exports, followed by Switzerland (15.5%; €43 billion) and China (7.7%; €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