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30 (Harmonized System 1992 for 2-digit)

2023
World Trade $854BRnk 6 / 96
2023
Top Exporter | Top Importer $115B | $170BGermany | United States
2023
Product Complexity 1.13Rnk 15 / 96
2022 - 2023
Export Growth (CAGR) 0.89%Rnk 24 / 96
2023
Share of World Trade 3.78%Rnk 6 / 96

About

Overview This page contains the latest trade data of Pharmaceutical products. In 2023, Pharmaceutical products were the world's 6th most traded product, with a total trade of $854B. Between 2022 and 2023 the exports of Pharmaceutical products grew by 0.89%, from $846B to $854B. Trade in Pharmaceutical products represent 3.78% of total world trade.

Pharmaceutical products are a part of Chemical Products. They include Packaged Medicaments, Vaccines, blood, antisera, toxins and cultures, Unpackaged Medicaments, Special Pharmaceuticals, Bandages, and Glands and Other Organs.

Exports In 2023 the top exporters of Pharmaceutical products  were Germany ($115B), United States ($100B), Ireland ($92B), Switzerland ($80.7B), and Belgium ($52.1B).

Imports In 2023 the top importers of Pharmaceutical products were United States ($170B), Germany ($71.1B), Switzerland ($58.2B), Belgium ($54.1B), and China ($45.4B).

Ranking Pharmaceutical products ranks 15th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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Y-AXIS SCALE

The following visualization shows the latest trends on Pharmaceutical products. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

Explore Latest Trends

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)Germany$115B
Top Destination (2023)United States$170B

In 2023 Pharmaceutical products were the world's 6th most traded product (out of 96).

In 2023, the top exporters of Pharmaceutical products were Germany ($115B), United States ($100B), Ireland ($92B), Switzerland ($80.7B), and Belgium ($52.1B).

In 2023, the top importers of Pharmaceutical products were United States ($170B), Germany ($71.1B), Switzerland ($58.2B), Belgium ($54.1B), and China ($45.4B).

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Exporters of Pharmaceutical products (2023)
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Importers of Pharmaceutical products (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Slovenia$8.61B
Top Destination Growth (2022 -  2023)Switzerland$9.66B

Between 2022 and 2023, the exports of Pharmaceutical products grew the fastest in Slovenia ($8.61B), Singapore ($7.27B), Netherlands ($6.89B), Ireland ($5.69B), and Italy ($2.32B).

Between 2022 and 2023, the fastest growing importers of Pharmaceutical products were Switzerland ($9.66B), China ($7.05B), Belgium ($6.57B), Netherlands ($5.06B), and France ($5.04B).

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Exporters of Pharmaceutical products (2022 - 2023)

Importers of Pharmaceutical products (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Pharmaceutical products.

In 2023, market concentration measured using Shannon Entropy, was 4.4. This means that most of the exports of Pharmaceutical products are explained by 21 countries.

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Value of Exports in Pharmaceutical products

Net Trade

TOP NET EXPORTER (2023)Ireland$78.7B
TOP NET IMPORTER (2023)United States$70.1B

This map shows which countries export or import more of Pharmaceutical products. Each country is colored based on the difference in exports and imports of Pharmaceutical products during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Pharmaceutical products were Ireland ($78.7B), Germany ($44B), India ($24B), Switzerland ($22.5B), and Singapore ($17B).

In 2023, the countries that had a largest trade value in imports than in exports of Pharmaceutical products were United States ($70.1B), China ($33.5B), Japan ($15B), Russia ($11.2B), and Brazil ($9.05B).

Net Trade (2023)

Disaggregation

Value
Disaggregation

In 2023, the world most traded Pharmaceutical products, disaggragated by their HS6 level were Packaged Medicaments ($470B), Vaccines, blood, antisera, toxins and cultures ($334B), Unpackaged Medicaments ($17.6B), Special Pharmaceuticals ($17.3B), and Bandages ($10B)

HS6 Disaggregation for Pharmaceutical products (2023)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Pharmaceutical products.
It is possible to select the main countries that export or import Pharmaceutical products in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Pharmaceutical products by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALUnited Kingdom+ $1.28B
TOP IMPORT POTENTIALGermany+ $367M

Pharmaceutical products’s highest export potential is United Kingdom. With an export gap of $1.28B.  Pharmaceutical products’s highest import potential is Germany with an import gap of $367M.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

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