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2022
Exports $90BWorld Rnk 3 / 223
Flag Rnk 7 / 96
2022
Destination $2.45B China
2021 - 2022
FASTEST GROWING MARKET $2.45BUnited Kingdom
2022
PRODUCT COMPLEXITY IN Pharmaceutical products1.38Rnk 75 / 1025
2022
Imports $168BWorld Rnk 1 / 226
Flag Rnk 5 / 96
2022
Origin $6.8B Ireland
2021 - 2022
FASTEST GROWING ORIGIN $6.8BSwitzerland
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $90B in Pharmaceutical products, making it the 3rd largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 7th most exported product in United States. The main destination of Pharmaceutical products exports from United States are: China ($8.96B), Germany ($7.96B), Japan ($7.64B), Netherlands ($6.92B), and Canada ($6.62B).

The fastest growing export markets for Pharmaceutical products of United States between 2021 and 2022 were United Kingdom ($2.45B), Switzerland ($2.29B), and China ($2.29B).

Imports In 2022, United States imported $168B in Pharmaceutical products, becoming the 1st largest importer of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 5th most imported product in United States. United States imports Pharmaceutical products primarily from: Ireland ($31B), Switzerland ($28.2B), Germany ($25.6B), Belgium ($14.8B), and India ($7.82B).

The fastest growing import markets in Pharmaceutical products for United States between 2021 and 2022 were Switzerland ($6.8B), Germany ($4.98B), and Belgium ($2.95B).

COMPANIES In 2023, leading companies such as Baxter Healthcare (388), L'Oreal (52), and Amazon (33) were at the forefront of shipping Pharmaceutical products to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United States' Pharmaceutical products exports accounted up to $9.58B and imports accounted up to $17.8B, resulting in a negative trade balance of $8.22B. Between August 2023 and August 2024 the exports of United States'   Pharmaceutical products have increased by $1.47B (18.2%) from $8.1B to $9.58B, while imports increased by $1.52B (9.37%) from $16.3B to $17.8B.

Destinations In August 2024, Pharmaceutical products were exported mostly to China ($1.36B), Italy ($922M), Netherlands ($898M), Japan ($782M), and Germany ($630M), and were imported mostly from Ireland ($4.37B), Switzerland ($1.66B), Germany ($1.42B), Italy ($1.28B), and Belgium ($1.05B).

Growth In August 2024, the increase in Pharmaceutical products's year-by-year exports was explained primarily by an increase in exports to Belgium ($801M or 257%), China ($600M or 254%), and Japan ($284M or 82%). In August 2024, the increase in Pharmaceutical products's year-by-year imports was explained primarily by an increase in imports from Ireland ($809M or 34.4%), Netherlands ($704M or 223%), and Switzerland ($631M or 49.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$1.47B(18.2%)
IMPORT GROWTH (August 2023 - August 2024)$1.52B(9.37%)
MAIN EXPORTER (August 2024)Puerto Rico$2.61B
MAIN DESTINATION (August 2024)China$1.36B

This section shows Pharmaceutical products's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Pharmaceutical products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$90B
IMPORTS (2022)$168B
NET TRADE (2022)-$78.2B

In 2022, United States exported $90B in Pharmaceutical products. The main destinations of United States exports on Pharmaceutical products were China ($8.96B), Germany ($7.96B), Japan ($7.64B), Netherlands ($6.92B), and Canada ($6.62B).

In 2022, United States imported $168B in Pharmaceutical products, mainly from Ireland ($31B), Switzerland ($28.2B), Germany ($25.6B), Belgium ($14.8B), and India ($7.82B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR United States WERE (2021 - 2022):
United Kingdom$2.45B (63.4%)
Switzerland$2.29B (110%)
China$2.29B (34.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY United States WERE (2021 - 2022):
Brazil-$1.63B (-50.3%)
Canada-$1.05B (-13.7%)
Belgium-$861M (-17%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Pharmaceutical products were:
Germany $125B
Switzerland $93.8B
In 2022, United States's main importing competitors in Pharmaceutical products were:
Germany $71.1B
Switzerland $48.5B

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Trade Value of Pharmaceutical products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALCanada+ $2.17B
TOP IMPORT POTENTIALCanada+ $3.11B

Pharmaceutical products’s highest export potential is Canada. With an export gap of $2.17B.   Pharmaceutical products’s highest import potential is Canada with an import gap of $3.11B.

See methodology.

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