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Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. those in the form of transdermal admin. systems) or packed for retail sale

3004 (Harmonized System 1992 for 4-digit)

2023
World Trade $470BRnk 8 / 1217
2023
Top Exporter | Top Importer $66.4B | $82.7BGermany | United States
2023
Product Complexity 0.87Rnk 220 / 1044
2022 - 2023
Export Growth (CAGR) 0.31%Rnk 397 / 1217
2023
Share of World Trade 2.08%Rnk 8 / 1217

About

Overview This page contains the latest trade data of Packaged Medicaments. In 2023, Packaged Medicaments were the world's 8th most traded product, with a total trade of $470B. Between 2022 and 2023 the exports of Packaged Medicaments grew by 0.31%, from $468B to $470B. Trade in Packaged Medicaments represent 2.08% of total world trade.

Packaged Medicaments are a part of Pharmaceutical products. They include Medicaments in Dosage (n.e.s.), Hormones (Excl. Contraceptives) in Dosage, Antibiotics nes, in dosage, Insulin, in dosage, Adrenal cortical hormones, in dosage, Alkaloid derivatives (excluding antibiotics and hormones, in dosage form), Vitamins, derivatives,in dosage, and Penicillins and streptomycins, derivs, in dosage.

Exports In 2023 the top exporters of Packaged Medicaments  were Germany ($66.4B), United States ($41B), Switzerland ($39.7B), Italy ($37.6B), and Ireland ($36.3B).

Imports In 2023 the top importers of Packaged Medicaments were United States ($82.7B), Switzerland ($40B), Germany ($30.8B), China ($23.5B), and Belgium ($22.5B).

Ranking Packaged Medicaments ranks 220th 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.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Packaged Medicaments. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)Germany$66.4B
Top Destination (2023)United States$82.7B

In 2023 Packaged Medicaments were the world's 8th most traded product (out of 1,217).

In 2023, the top exporters of Packaged Medicaments were Germany ($66.4B), United States ($41B), Switzerland ($39.7B), Italy ($37.6B), and Ireland ($36.3B).

In 2023, the top importers of Packaged Medicaments were United States ($82.7B), Switzerland ($40B), Germany ($30.8B), China ($23.5B), and Belgium ($22.5B).

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Exporters of Packaged Medicaments (2023)
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Importers of Packaged Medicaments (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Slovenia$8.65B
Top Destination Growth (2022 -  2023)Switzerland$8.34B

Between 2022 and 2023, the exports of Packaged Medicaments grew the fastest in Slovenia ($8.65B), Italy ($3.13B), Belgium ($2.18B), India ($2.17B), and Spain ($1.45B).

Between 2022 and 2023, the fastest growing importers of Packaged Medicaments were Switzerland ($8.34B), China ($3.78B), Netherlands ($2.07B), France ($1.84B), and Saudi Arabia ($997M).

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Exporters of Packaged Medicaments (2022 - 2023)

Importers of Packaged Medicaments (2022 - 2023)

Market Concentration

Value

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

In 2023, market concentration measured using Shannon Entropy, was 4.52. This means that most of the exports of Packaged Medicaments are explained by 22 countries.

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Value of Exports in Packaged Medicaments

Net Trade

TOP NET EXPORTER (2023)Germany$35.5B
TOP NET IMPORTER (2023)United States$41.8B

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 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Packaged Medicaments were Germany ($35.5B), Ireland ($30.9B), India ($22.3B), Italy ($17.6B), and Denmark ($12.6B).

In 2023, the countries that had a largest trade value in imports than in exports of Packaged Medicaments were United States ($41.8B), China ($17.9B), Russia ($7.96B), Japan ($7.41B), and Australia ($4.82B).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Packaged Medicaments, disaggragated by their HS6 level were Medicaments in Dosage (n.e.s.) ($381B), Hormones (Excl. Contraceptives) in Dosage ($38.5B), Antibiotics nes, in dosage ($15.4B), Adrenal cortical hormones, in dosage ($11.4B), and Insulin, in dosage ($8.61B)

HS6 Disaggregation for Packaged Medicaments (2023)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Packaged Medicaments.
It is possible to select the main countries that export or import Packaged Medicaments in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Packaged Medicaments by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALUnited Kingdom+ $742M
TOP IMPORT POTENTIALGermany+ $204M

Packaged Medicaments’s highest export potential is United Kingdom. With an export gap of $742M.  Packaged Medicaments’s highest import potential is Germany with an import gap of $204M.

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Product Complexity

Diversification Frontier

Specialization

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.

Relatedness vs Country Complexity (2023)

Related Products

This visualization shows products that are likely to be exported by countries that export Packaged Medicaments.

Country by Relatedness

The following visualization shows the relatedness of Packaged Medicaments to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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