PULSE - Europe beyond the beat

Trade surplus

EU pharmaceutical exports 2024: record EUR 313.4 billion

In 2024, EU pharmaceutical exports reach a record €313.4 billion, with Germany leading the way as the largest non-EU exporter. The article also analyses imports, main trading partners and supply chain challenges

by Davide Madeddu (Il Sole 24 Ore) and Ieva Kniukštienė (Delphi, Lithuania)

12 May 2025

4' min read

For the EU countries, 2024 was the year of growth for the import and export of medicines. Although it was the EU exports of medicines and pharmaceutical products that took the lead. In 2024, the increase compared to 2023 was 13.5 per cent to EUR 313.4 billion. At the same time, there was a 'very modest' 0.5 per cent increase in imports to EUR 119.7 billion. The recorded trade surplus reached EUR 193.6 billion, which was considered a record level. The figure emerges from the Eurostat report for 2024.

Last year, Germany was the largest non-EU exporter of medicines and pharmaceuticals in the EU with EUR 67.9 billion, followed by Ireland with EUR 56.6 billion and Belgium with EUR 41.4 billion.

The largest non-EU importers were Germany with EUR 23.0 billion, Belgium with EUR 21.3 billion and the Netherlands with EUR 14.7 billion.

Consumi ed export di olio d'oliva sopra le aspettative

Export to the USA

Then there is the destination chapter. The main one was in the direction of the USA with 38.2% of all exports outside the EU and a value of EUR 119.8 billion. This was followed by Switzerland with 16.4% and a value of EUR 51.3 billion. Then the UK with 5.8% and a value of EUR 18.2 billion.

Most imports to the EU came from the US (38.3%; EUR 45.9 billion), Switzerland (32.6%; EUR 39.1 billion) and the UK (7.3%; EUR 8.7 billion). Four countries recorded shares of over 20% for medicinal and pharmaceutical products in their total extra-EU exports. These were Slovenia (69%), Ireland (42%), Denmark and Belgium (both 25%).

Imports

Germany (EUR 23 billion), Belgium (EUR 21 billion), the Netherlands (EUR 15 billion) and Italy (EUR 14 billion) were the largest importers of medical and pharmaceutical products from countries outside the EU in 2024. During the same period, Slovenia (17%), Belgium (12%) and Malta (11%) recorded the highest shares of medicinal and pharmaceutical products in their total non-EU imports. Ireland (EUR 49 billion) and Germany (EUR 45 billion) had the highest extra-EU trade surpluses for medicinal and pharmaceutical products in 2024. Only Romania, Slovakia, Malta, Estonia and the Czech Republic had trade deficits.

The Italian Framework

As for Italy, the 2024 figures, as Farmindustria points out, 'confirm the great contribution to growth'.

Specifically, Italy recorded exports of EUR 53.8 billion "equal to over 90% of production, estimated at EUR 56.1 billion". Italy, the Farmindustria representatives point out, is considered a European hub for production "among the main countries in terms of pharmaceutical production and the 7th pharmaceutical market in the world". In 2024, the number of employees was 71 thousand with a growth of 1.5%, mainly concentrated in R&D and production (+3%). Other figures speak of '+€21.2 billion foreign balance of drugs and vaccines, the first sector by surplus'. "Drugs and vaccines," argue Farmindustria, "account for 18% of the overall foreign balance of the manufacturing industry in Italy". That's not all. Other figures include +€11.2 billion of positive foreign balance of the sector's total. "Pharmaceuticals as a percentage of total manufacturing exports has risen from 3.5% in 2004 to 9.1% in 2024," they go on to argue. "Over the last five years, pharmaceutical exports have grown by 65% compared to 26% for other sectors, and have essentially determined 100% of the growth in pharmaceutical production. Moreover, "in the last 5 years, Italy's exports have grown more than those of other European countries (+65% compared to +57%)".

Consumi ed export di olio d'oliva sopra le aspettative

Lithuania: the fragile balance between drug importation and production

According to the latest official data from the Lithuanian Medicines Control Service (SMCA), over 90% of the medicines distributed on the national market are imported. Only a marginal share - less than 10% - is produced locally, mainly by companies such as Valentis and Aconitum, which are active in the production of supplements and generic drugs. The main import partner countries are Germany, Poland, Latvia and, increasingly, India, where physical production takes place, while registration and serialisation are handled by EU holders, including Lithuanian operators. This hybrid system makes it difficult to clearly classify the origin of many medicines.

Import choices are not centralised by the state but depend on AIC (marketing authorisation) holders, who decide on the basis of economic and structural parameters: market price, population size, reimbursement system, logistical costs and availability of therapeutic alternatives. While this approach provides flexibility, it also exposes the market to risks related to disruptions in the supply chain.

In 2024, approximately 120 reports of interruptions in the supply of medicines were registered by the SMCA, most of them related to production problems or unexpected increases in demand. The Lithuanian authorities have put in place rapid measures: permission for temporary use of foreign language packs from other EEA countries, possibility for healthcare facilities to source directly abroad, use of unregistered 'trade name' medicines, and fast-track procedures for registration of equivalents. Particular attention is given to reimbursed medicines: in the event of irreplaceable unavailability, a revision of the price list is immediately initiated to introduce a similar medicine. At the moment, no serious shortages are reported in critical therapeutic categories.

* This article is part of the European collaborative journalism project "Pulse"..