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2023
Exports $16.9BWorld Rnk 10 / 214
Flag Rnk 2 / 1215
2023
Destination $449MN/A
2022 - 2023
FASTEST GROWING MARKET $449MChina
2023
PRODUCT COMPLEXITY IN Packaged Medicaments0.63Rnk 313 / 1025
2023
Imports $14BWorld Rnk 11 / 226
Flag Rnk 5 / 1214
2023
Origin $452M United States
2022 - 2023
FASTEST GROWING ORIGIN $452MUnited States
2023
ECONOMIC COMPLEXITY of Spain0.86Rnk 31 / 132

About

The fastest growing export markets for Packaged Medicaments of Spain between 2022 and 2023 were China ($449M), Germany ($360M), and Switzerland ($290M).

Imports In 2023, Spain imported $14B in Packaged Medicaments, becoming the 11th largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 5th most imported product in Spain. Spain imports Packaged Medicaments primarily from: United States ($5.2B), Germany ($2.23B), France ($974M), Belgium ($736M), and Italy ($713M).

The fastest growing import markets in Packaged Medicaments for Spain between 2022 and 2023 were United States ($452M), Sweden ($104M), and Denmark ($96.5M).

COMPANIES In 2023, leading companies such as Baxter Healthcare (14) were at the forefront of shipping Packaged Medicaments from Spain to the United States.

Latest Trends

November 2024

About

Overview In November 2024 Spain's Packaged Medicaments exports accounted up to €1.06B and imports accounted up to €1.23B, resulting in a negative trade balance of €174M. Between November 2023 and November 2024 the exports of Spain's   Packaged Medicaments have increased by €98.9M (10.3%) from €957M to €1.06B, while imports increased by €163M (15.3%) from €1.07B to €1.23B.

Destinations In November 2024, Packaged Medicaments were exported mostly to Switzerland (€197M), China (€143M), Germany (€118M), France (€61.2M), and United States (€58.8M), and were imported mostly from United States (€406M), Germany (€150M), Italy (€106M), Belgium (€84.7M), and France (€75.9M).

Growth In November 2024, the increase in Packaged Medicaments's year-by-year exports was explained primarily by an increase in exports to Germany (€39.6M or 53.4%), China (€12.8M or 98.5%), and Brazil (€12.2M or 313%). In November 2024, the increase in Packaged Medicaments's year-by-year imports was explained primarily by an increase in imports from Germany (€52.4M or 45.2%), Sweden (€33.4M or 213%), and Switzerland (€25.2M or 82.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)€98.9M(10.3%)
IMPORT GROWTH (November 2023 - November 2024)€163M(15.3%)
MAIN EXPORTER (November 2024)Madrid€695M
MAIN DESTINATION (November 2024)Switzerland€197M

This section shows Packaged Medicaments's exports and imports data at subnational level for Spain. 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 Packaged Medicaments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$16.9B
IMPORTS (2023)$14B
NET TRADE (2023)$2.86B

In 2023, Spain imported $14B in Packaged Medicaments, mainly from United States ($5.2B), Germany ($2.23B), France ($974M), Belgium ($736M), and Italy ($713M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Packaged Medicaments EXPORT MARKETS FOR Spain WERE (2022 - 2023):
China$449M (85%)
Germany$360M (23.8%)
Switzerland$290M (5.59%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packaged Medicaments BY Spain WERE (2022 - 2023):
United States-$292M (-17.2%)
Canada-$72M (-25.1%)
Japan-$36.3M (-11.8%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Spain's main exporting competitors in Packaged Medicaments were:
Germany $66.4B
United States $41B
Switzerland $39.7B
In 2023, Spain's main importing competitors in Packaged Medicaments were:
United States $82.7B
Switzerland $40B
Germany $30.8B

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Trade Value of Packaged Medicaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $618M
TOP IMPORT POTENTIALFrance+ $600M

Packaged Medicaments’s highest export potential is United States. With an export gap of $618M.   Packaged Medicaments’s highest import potential is France with an import gap of $600M.

See methodology.

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