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2022
Exports $1.77BWorld Rnk 2 / 199
Flag Rnk 176 / 1217
2022
Destination $29.3M Japan
2021 - 2022
FASTEST GROWING MARKET $29.3MBelgium
2022
PRODUCT COMPLEXITY IN Special Pharmaceuticals0.61Rnk 321 / 1025
2022
Imports $3.52BWorld Rnk 1 / 220
Flag Rnk 162 / 1216
2022
Origin $115M Finland
2021 - 2022
FASTEST GROWING ORIGIN $115MFinland
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $1.77B in Special Pharmaceuticals, making it the 2nd largest exporter of Special Pharmaceuticals in the world. At the same year, Special Pharmaceuticals was the 176th most exported product in United States. The main destination of Special Pharmaceuticals exports from United States are: Japan ($234M), Belgium ($213M), Singapore ($176M), China ($170M), and Canada ($143M).

The fastest growing export markets for Special Pharmaceuticals of United States between 2021 and 2022 were Belgium ($29.3M), Canada ($24.6M), and United Kingdom ($20.8M).

Imports In 2022, United States imported $3.52B in Special Pharmaceuticals, becoming the 1st largest importer of Special Pharmaceuticals in the world. At the same year, Special Pharmaceuticals was the 162nd most imported product in United States. United States imports Special Pharmaceuticals primarily from: Finland ($608M), Netherlands ($497M), China ($398M), Germany ($306M), and Switzerland ($249M).

The fastest growing import markets in Special Pharmaceuticals for United States between 2021 and 2022 were Finland ($115M), Italy ($39.9M), and Israel ($17.4M).

COMPANIES In 2023, leading companies such as One Banana (24), Stihl (20), and Amazon (18) were at the forefront of shipping Special Pharmaceuticals to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United States' Special Pharmaceuticals exports accounted up to $242M and imports accounted up to $346M, resulting in a negative trade balance of $104M. Between August 2023 and August 2024 the exports of United States'   Special Pharmaceuticals have increased by $27.9M (13.1%) from $214M to $242M, while imports increased by $71M (25.8%) from $275M to $346M.

Destinations In August 2024, Special Pharmaceuticals were exported mostly to China ($47.8M), Belgium ($31.9M), Japan ($30.2M), Canada ($17.8M), and Germany ($14.7M), and were imported mostly from Finland ($72.3M), Germany ($45.5M), Norway ($28.6M), Italy ($25.8M), and France ($18.9M).

Growth In August 2024, the increase in Special Pharmaceuticals's year-by-year exports was explained primarily by an increase in exports to Germany ($16.9M or 398%), Ireland ($5.3M or 947%), and Singapore ($5.25M or 40.8%). In August 2024, the increase in Special Pharmaceuticals's year-by-year imports was explained primarily by an increase in imports from Switzerland ($23.1M or 250%), Italy ($7.3M or 51.8%), and France ($6.07M or 156%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$27.9M(13.1%)
IMPORT GROWTH (August 2023 - August 2024)$71M(25.8%)
MAIN EXPORTER (August 2024)Tennessee$80M
MAIN DESTINATION (August 2024)China$47.8M

This section shows Special Pharmaceuticals'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 Special Pharmaceuticals over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.77B
IMPORTS (2022)$3.52B
NET TRADE (2022)-$1.76B

In 2022, United States exported $1.77B in Special Pharmaceuticals. The main destinations of United States exports on Special Pharmaceuticals were Japan ($234M), Belgium ($213M), Singapore ($176M), China ($170M), and Canada ($143M).

In 2022, United States imported $3.52B in Special Pharmaceuticals, mainly from Finland ($608M), Netherlands ($497M), China ($398M), Germany ($306M), and Switzerland ($249M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Special Pharmaceuticals EXPORT MARKETS FOR United States WERE (2021 - 2022):
Belgium$29.3M (16%)
Canada$24.6M (20.9%)
United Kingdom$20.8M (110%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Special Pharmaceuticals BY United States WERE (2021 - 2022):
China-$125M (-42.4%)
Singapore-$42.5M (-19.5%)
Russia-$14.4M (-68.4%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, United States's main exporting competitors in Special Pharmaceuticals were:
Germany $3.23B
Netherlands $1.25B
In 2022, United States's main importing competitors in Special Pharmaceuticals were:
Belgium $1.22B
China $1.01B

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Trade Value of Special Pharmaceuticals by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALCanada+ $45.4M
TOP IMPORT POTENTIALMexico+ $77.6M

Special Pharmaceuticals’s highest export potential is Canada. With an export gap of $45.4M.   Special Pharmaceuticals’s highest import potential is Mexico with an import gap of $77.6M.

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