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2023
Exports $100BWorld Rnk 2 / 225
Flag Rnk 6 / 96
2023
Destination $5.38B Germany
2022 - 2023
FASTEST GROWING MARKET $5.38BBelgium
2023
PRODUCT COMPLEXITY IN Pharmaceutical products1.25Rnk 89 / 1025
2023
Imports $170BWorld Rnk 1 / 226
Flag Rnk 5 / 96
2023
Origin $5.18B Ireland
2022 - 2023
FASTEST GROWING ORIGIN $5.18BNetherlands
2023
ECONOMIC COMPLEXITY of United States1.5Rnk 10 / 132

About

Exports In 2023, United States exported $100B in Pharmaceutical products, making it the 2nd largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 6th most exported product in United States. The main destination of Pharmaceutical products exports from United States are: Germany ($11.8B), Belgium ($11.4B), China ($7.96B), Japan ($7.83B), and Spain ($6.81B).

The fastest growing export markets for Pharmaceutical products of United States between 2022 and 2023 were Belgium ($5.38B), Germany ($1.29B), and Austria ($977M).

Imports In 2023, United States imported $170B 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 ($31.6B), Germany ($21.5B), Switzerland ($17.9B), India ($10.8B), and Netherlands ($10.1B).

The fastest growing import markets in Pharmaceutical products for United States between 2022 and 2023 were Netherlands ($5.18B), Singapore ($5.04B), and Slovenia ($2.07B).

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

November 2024

About

Overview In November 2024 United States' Pharmaceutical products exports accounted up to $7.05B and imports accounted up to $16B, resulting in a negative trade balance of $8.92B. Between November 2023 and November 2024 the exports of United States'   Pharmaceutical products have decreased by $-87.5M (-1.23%) from $7.14B to $7.05B, while imports increased by $1.38B (9.46%) from $14.6B to $16B.

Destinations In November 2024, Pharmaceutical products were exported mostly to Netherlands ($751M), Germany ($700M), Japan ($620M), Canada ($595M), and China ($496M), and were imported mostly from Ireland ($3.96B), Singapore ($1.37B), Switzerland ($1.3B), Italy ($1.28B), and Germany ($1.19B).

Growth In November 2024, the decrease in Pharmaceutical products's year-by-year exports was explained primarily by a decrease in exports to Canada ($-347M or -47.3%), Nigeria ($-126M or -99.8%), and Bangladesh ($-107M or -99.1%). In November 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 (November 2023 - November 2024)$-87.5M(-1.23%)
IMPORT GROWTH (November 2023 - November 2024)$1.38B(9.46%)
MAIN EXPORTER (November 2024)Puerto Rico$2.61B
MAIN DESTINATION (November 2024)Netherlands$751M

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 (2023)$100B
IMPORTS (2023)$170B
NET TRADE (2023)-$70.1B

In 2023, United States exported $100B in Pharmaceutical products. The main destinations of United States exports on Pharmaceutical products were Germany ($11.8B), Belgium ($11.4B), China ($7.96B), Japan ($7.83B), and Spain ($6.81B).

In 2023, United States imported $170B in Pharmaceutical products, mainly from Ireland ($31.6B), Germany ($21.5B), Switzerland ($17.9B), India ($10.8B), and Netherlands ($10.1B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR United States WERE (2022 - 2023):
Belgium$5.38B (89.9%)
Germany$1.29B (12.3%)
Austria$977M (59.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY United States WERE (2022 - 2023):
United Kingdom-$2.25B (-32%)
Japan-$1.63B (-17.2%)
Canada-$1.14B (-17.9%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

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