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2023
Exports $48.2BWorld Rnk 6 / 225
Flag Rnk 3 / 96
2023
Destination $2.53B United States
2022 - 2023
FASTEST GROWING MARKET $2.53BSwitzerland
2023
PRODUCT COMPLEXITY IN Pharmaceutical products1.25Rnk 89 / 1025
2023
Imports $32.5BWorld Rnk 7 / 226
Flag Rnk 5 / 96
2023
Origin $1.42B Germany
2022 - 2023
FASTEST GROWING ORIGIN $1.42BSwitzerland
2023
ECONOMIC COMPLEXITY of Italy1.29Rnk 18 / 132

About

Exports In 2023, Italy exported $48.2B in Pharmaceutical products, making it the 6th largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 3rd most exported product in Italy. The main destination of Pharmaceutical products exports from Italy are: United States ($7.97B), Switzerland ($7.19B), Belgium ($6.62B), China ($4.15B), and Germany ($3.4B).

The fastest growing export markets for Pharmaceutical products of Italy between 2022 and 2023 were Switzerland ($2.53B), China ($2.41B), and United States ($1.55B).

Imports In 2023, Italy imported $32.5B in Pharmaceutical products, becoming the 7th largest importer of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 5th most imported product in Italy. Italy imports Pharmaceutical products primarily from: Germany ($7.87B), Belgium ($6.1B), Switzerland ($3.46B), Netherlands ($3.08B), and France ($2.53B).

The fastest growing import markets in Pharmaceutical products for Italy between 2022 and 2023 were Switzerland ($1.42B), Belgium ($204M), and Spain ($160M).

COMPANIES In 2023, leading companies such as Baxter Healthcare (179) and Stihl (20) were at the forefront of shipping Pharmaceutical products from Italy to the United States.

Latest Trends

October 2024

About

Overview In October 2024 Italy's Pharmaceutical products exports accounted up to €4.96B and imports accounted up to €3.01B, resulting in a positive trade balance of €1.95B. Between October 2023 and October 2024 the exports of Italy's   Pharmaceutical products have increased by €517M (11.6%) from €4.45B to €4.96B, while imports increased by €190M (6.73%) from €2.82B to €3.01B.

Destinations In October 2024, Pharmaceutical products were exported mostly to United States (€820M), Switzerland (€797M), Belgium (€783M), Netherlands (€468M), and Germany (€402M), and were imported mostly from Belgium (€586M), Germany (€437M), Netherlands (€354M), Switzerland (€337M), and Ireland (€275M).

Growth In October 2024, the increase in Pharmaceutical products's year-by-year exports was explained primarily by an increase in exports to China (€1.37B or 3.63k%), Switzerland (€161M or 83.7%), and Chinese Taipei (€129M or 858%). In October 2024, the increase in Pharmaceutical products's year-by-year imports was explained primarily by an increase in imports from Germany (€696M or 170%), Sweden (€25.2M or 58.9%), and Denmark (€20.6M or 69.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)€517M(11.6%)
IMPORT GROWTH (October 2023 - October 2024)€190M(6.73%)
MAIN DESTINATION (October 2024)United States€820M

This section shows Pharmaceutical products's exports and imports data at subnational level for Italy. 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 (2023)$48.2B
IMPORTS (2023)$32.5B
NET TRADE (2023)$15.7B

In 2023, Italy exported $48.2B in Pharmaceutical products. The main destinations of Italy exports on Pharmaceutical products were United States ($7.97B), Switzerland ($7.19B), Belgium ($6.62B), China ($4.15B), and Germany ($3.4B).

In 2023, Italy imported $32.5B in Pharmaceutical products, mainly from Germany ($7.87B), Belgium ($6.1B), Switzerland ($3.46B), Netherlands ($3.08B), and France ($2.53B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR Italy WERE (2022 - 2023):
Switzerland$2.53B (54.4%)
China$2.41B (138%)
United States$1.55B (24%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY Italy WERE (2022 - 2023):
Belgium-$3.24B (-32.8%)
Germany-$822M (-19.5%)
Japan-$696M (-52.3%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Italy's main exporting competitors in Pharmaceutical products were:
Germany $115B
United States $100B
Ireland $92B
In 2023, Italy's main importing competitors in Pharmaceutical products were:
United States $170B
Germany $71.1B
Switzerland $58.2B

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Trade Value of Pharmaceutical products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $1.81B
TOP IMPORT POTENTIALSwitzerland+ $1.67B

Pharmaceutical products’s highest export potential is United States. With an export gap of $1.81B.   Pharmaceutical products’s highest import potential is Switzerland with an import gap of $1.67B.

See methodology.

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