Countries Causing Worst Deficits Trading Drugs and Medecines In turn, these positive cashflows confirm both countries’ strong competitive advantages for this specific product category. Germany trailed by Ireland are the two top competitors for generating the highest surpluses in the international trade of drugs and medicines. Israel: $1.4 billion (reversing a -$38.7 million deficit).Germany: US$40.1 billion (product surplus, up 32.9% from 2021).Thus, the statistics below present the surplus between the value of each country’s drugs and medicine exports and its import purchases for that same commodity. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. The following countries posted the highest positive net exports for drugs and medicines during 2022. Countries Generating Greatest Surpluses Trading Drugs and Medicines Germany: US$74.5 billion (16.2% of total drugs and medicines exports)īy value, the listed 15 countries shipped 85.8% of worldwide exported drugs and medicine for 2022.Īmong the above countries, the fastest-growing exporters of drugs and medicines were: Slovenia (up 63.8% from 2021), Italy (up 33.4%), United States of America (up 18.5%) and Germany (up 14.8%).įour countries that posted declines in their exported drugs and medicines sales were: Netherlands (down -19.3% from 2021), Switzerland (down -6.1%), France (down -4.8%), then Sweden (down -3.7%).3004 for medicaments consisting of unmixed or other mixed products (97.9%).īelow are the 15 countries that exported the highest dollar value worth of drugs and medicines during 2022.3003 for medicaments consisting of two or more mixed constituents (2.1% of global total), and.Tinier percentages came from suppliers of drugs and medicines in Latin America (0.7%) excluding Mexico but including the Caribbean, Oceania (0.31%) led by Australia and New Zealand, then Africa (0.26%).įor research purposes, the 4-digit Harmonized Tariff System code prefixes for drugs and medicines are: In second place were pharmaceutical exporters in Asia at 9.9% while another 8.9% of worldwide drugs and medicine shipments originated from providers in North America. Collectively, that quintet of major pharmaceutical suppliers generated about half (49.9%) of globally exported drugs and medicines in 2022.Īmong continents, European countries sold the highest dollar value worth of exported drugs and medicines during 2022 with shipments from Europe accumulating to $358.2 billion or 79.9% of the global total. The top 5 exporters of drugs and medicines are Germany, Switzerland, Belgium, United States of America and Italy. There was also a 6.5% year-over-year upturn compared to $450.5 billion during 2021. Overall the value of exported drugs and medicines delivered via international markets expanded by an average 22.9% for all exporting countries since 2018 when drugs and medicines shipments were valued at $373 billion. Prescription drug salesGlobal sales from worldwide exports of drugs and medicines totaled US$458.4 billion in 2022.
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