HS Icon Packaged Medicaments

3004 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $389B, Rnk 7 / 1217

2019
Top Exporter | Top Importer
: $56.8B | $79.5B, Germany | United States

2019
Product Complexity
: 0.51, Rnk 340 / 961

2018 - 2019
Export Growth (CAGR)
: 5.33%, Rnk 147 / 1217

2018
Mean Tariff
: 4.01%, Rnk 989 / 1259

 2019
Share of World Trade
: 2.15%, Rnk 7 / 1217

Overview:  This page contains the latest trade data of Packaged Medicaments. In 2019, Packaged Medicaments were the world's 7th most traded product, with a total trade of $389B. Between 2018 and 2019 the exports of Packaged Medicaments grew by 5.33%, from  $370B to $389B. Trade in Packaged Medicaments represent 2.15% of total world trade.

Exports: In 2019 the top exporters of Packaged Medicaments  were Germany ($56.8B), Switzerland ($46.2B), Ireland ($27.8B), United States ($27.5B), and France ($26.3B).

Imports: In 2019 the top importers of Packaged Medicaments were United States ($79.5B), Germany ($30.5B), Switzerland ($20.4B), Belgium ($18.6B), and China ($17.8B).

Tariffs: In 2018 the average tariff for Packaged Medicaments was 4.01%, making it the 989th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Packaged Medicaments are Iran (31%), Nepal (14%), Pakistan (12.4%), Tunisia (10%), and Jamaica (9.58%). The countries with the lowest tariffs are Angola (0%), Cote d'Ivoire (0%), Ghana (0%), Guinea (0%), and Kenya (0%).

Ranking: Packaged Medicaments ranks 340th in the Product Complexity Index (PCI).

Description: Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those for transdermal administration" or in forms or packings for retail sale are used to treat or prevent a disease or condition.

Exporters and Importers

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Trade By Country

Top Origin (2019): Germany, $56.8B

Top Destination (2019): United States, $79.5B

Packaged Medicaments are the world's 7th most traded product.

In 2019, the top exporters of Packaged Medicaments were Germany ($56.8B), Switzerland ($46.2B), Ireland ($27.8B), United States ($27.5B), and France ($26.3B).

In 2019, the top importers of Packaged Medicaments were United States ($79.5B), Germany ($30.5B), Switzerland ($20.4B), Belgium ($18.6B), and China ($17.8B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Italy, $4.74B

Top Destination Growth (2018 - 2019): United States, $8.11B

Between 2018 and 2019, the exports of Packaged Medicaments grew the fastest in Italy ($4.74B), Denmark ($2.63B), Switzerland ($2.19B), United States ($1.94B), and Netherlands ($1.91B).

Between 2018 and 2019, the fastest growing importers of Packaged Medicaments were United States ($8.11B), Germany ($2.8B), China ($2.58B), Slovenia ($2.3B), and Russia ($2.19B).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Packaged Medicaments.

In 2019,  market concentration measured using Shannon Entropy, was 4.45. This means that most of the exports of Packaged Medicaments are explained by 21 countries.

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TOP NET EXPORTER (2019): Germany, $26.3B

TOP NET IMPORTER (2019): United States, $52B

This map shows which countries export or import more of Packaged Medicaments. Each country is colored based on the difference in exports and imports of Packaged Medicaments during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Packaged Medicaments were Germany ($26.3B), Switzerland ($25.8B), Ireland ($24.5B), India ($14.6B), and France ($10.2B).

In 2019, the countries that had a largest trade value in imports than in exports of Packaged Medicaments were United States ($52B), China ($14B), Russia ($9.69B), Japan ($9.04B), and Australia ($2.98B).

Disaggregation

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Value

In 2019, the world most traded Packaged Medicaments, disaggragated by their HS6 level were Medicaments nes, in dosage ($306B), Hormones nes, except contraceptives, in dosage ($33.4B), Antibiotics nes, in dosage ($16.1B), Adrenal cortical hormones, in dosage ($10.3B), and Insulin, in dosage ($10.2B)

Import Tariffs

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In 2018, the average tariff for importing Packaged Medicaments was 4.01%.  The countries with the highest tariffs for importing Packaged Medicaments were Iran (31%), Nepal (14%), Pakistan (12.4%), Tunisia (10%), and Jamaica (9.58%).

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Product Complexity

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Diversification Frontier

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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.