EU trade surplus in medicines at a record high

EU trade surplus in medicines at a record high

EU trade surplus in medicines at a record high

The FINANCIAL -- EU exports and imports of medicinal and pharmaceutical products grew almost every year between 2002 and 2017, reaching EUR 156 billion and EUR 77 billion respectively in 2017.

With exports growing more than imports, the trade balance increased from a surplus of EUR 22 billion in 2002 to a record high of EUR 80 billion in 2017.

The main destination for EU exports of medicinal and pharmaceutical products was the United States (accounting for 31 % of EU exports of these products). Switzerland (13 %) was second, followed by China (6 %), Japan and Russia (both 5 %). Imports of medicinal and pharmaceutical products into the EU were overwhelmingly from the United States (accounting for 40 % of EU imports of these products) and Switzerland (34 %). No other country had a share of more than 6 %.