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Pharmaceutical Exports (millions $)

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Pharmaceutical Exports by Country 2024

Pharmaceutical products were the number 6 market worldwide in 2021. Worth $806 billion overall, the market is 3.83% of the total world market. Exports grew 20% between 2020 and 2021, most likely due to the world health crisis.

The top exporter of pharmaceuticals was Germany, which exported $115 billion, significantly more than the $76.6 billion it imported. Similarly, Switzerland exported $90.2 billion and imported only $40.2 billion, and Belgium exported $71.1 billion and imported $44 billion. The only country in the top five of exports that doesn't follow this pattern is the United States, which exported $81.6 billion but imported $145 billion. In fact, the United States was the number one country for pharmaceutical imports, importing 18% of the global market share.

The pharmaceutical industry is the sixth-largest market in the world, and has grown substantially over the last two decades. In 2001, the market as a whole was worth $390.2 billion worldwide. This number has more than tripled, and the Industry was worth $1,482 billion dollars in 2022.

While some of the increase can be attributed to the COVID-19 pandemic, which saw unprecedented levels of global cooperation, the upward trend has been a constant since 2001. This correlates with the opioid crisis, a health emergency that started with the overprescribing of prescription painkillers. This led to widespread addiction, drug abuse, disablement, and death for large groups of people around the world.

The last several years have been marked by legal battles that showed the damage caused by profit-focused pharmaceutical companies fueling the health crisis to make money. Several settlements have been made recently, and at least one national pharmacy chain in the United States has declared bankruptcy.

Some of the expansion of this market over the last two decades was certainly a result of the popularity of opioids and prescription painkillers. Now that it looks like the courts have tightened supervision and regulation of these drugs, it will be interesting to see how the market grows.

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Country
Pharmaceutical Exports (millions $)
Germany$119,348
Switzerland$102,817
Belgium$98,695
Ireland$74,075
Netherlands$53,283
China$48,487
France$40,062
Italy$38,325
United Kingdom$27,686
Denmark$21,847
Spain$21,561
India$21,012
Austria$14,837
Sweden$11,666
Singapore$10,814
Slovenia$9,714
Canada$9,603
South Korea$8,720
Hungary$7,908
Japan$7,821
Poland$5,523
Czech Republic$3,992
Greece$3,415
Australia$2,722
Russia$2,534
United Arab Emirates$2,351
Israel$2,145
Turkey$1,924
Mexico$1,787
Hong Kong$1,710
Portugal$1,635
Panama$1,554
Finland$1,236
Croatia$1,192
Brazil$1,190
Bulgaria$1,189
Romania$1,160
Lithuania$1,079
South Africa$935
Argentina$811
Taiwan$785
Norway$720
Latvia$699
Thailand$652
Slovakia$634
Jordan$615
Malaysia$573
Indonesia$572
Malta$514
Dominican Republic$462
Cyprus$414
Saudi Arabia$411
New Zealand$402
Colombia$398
Guatemala$335
Serbia$330
Costa Rica$318
Egypt$314
Belarus$311
Ukraine$302
Pakistan$269
Chile$234
El Salvador$209
Vietnam$201
Luxembourg$185
Uruguay$182
Morocco$150
Kenya$139
North Macedonia$130
Estonia$123
Bangladesh$121
Oman$121
Iran$111
Georgia$110
Tunisia$100
Moldova$86
Bosnia and Herzegovina$83
Peru$80
Kazakhstan$65
Philippines$64
Paraguay$60
Lebanon$41
Guyana$37
Mauritius$35
Ecuador$32
Nicaragua$30
Montenegro$27
Barbados$25
Uzbekistan$22
Kuwait$21
Armenia$20
Uganda$16
Fiji$15
Nepal$15
Botswana$14
Cambodia$14
Honduras$12
Sri Lanka$7
Iceland$7
Kyrgyzstan$6
Madagascar$6
Jamaica$5
Bahrain$5
Azerbaijan$5
Albania$4
Ghana$4
Benin$4
Ivory Coast$4
Qatar$4
Trinidad and Tobago$3
Tanzania$3
Togo$3
DR Congo$3
Algeria$3
Zimbabwe$3
Bolivia$2
Mali$2
Senegal$2
Niger$2
Ethiopia$2
Sierra Leone$2
Namibia$2
Zambia$2
Syria$2
Sudan$1
Nigeria$1
Brunei$1
Eswatini$1
Guinea$1
Belize$1
Seychelles$1
Cameroon$1
Burkina Faso$1
Rwanda$1
Venezuela$1
Afghanistan$0
Mongolia$0
Tajikistan$0
Gabon$0
Bahamas$0
Aruba$0
Mauritania$0
Lesotho$0
Saint Lucia$0
Myanmar$0
Laos$0
New Caledonia$0
Antigua and Barbuda$0
Mozambique$0
Malawi$0
Sao Tome and Principe$0
Angola$0
Saint Vincent and the Grenadines$0
Cayman Islands$0
Grenada$0
Macau$0
French Polynesia$0
Republic of the Congo$0
Timor Leste$0
Suriname$0
Samoa$0
Bermuda$0
Saint Kitts and Nevis$0
showing: 163 rows

What country exports the most pharmaceuticals?

In 2021, the most pharmaceutical exports came from Germany, which were worth a total of $115 billion.

Frequently Asked Questions

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