In a year marked by global uncertainties, Europe’s pharmaceutical sector has emerged as a quiet powerhouse.
Exports of medical and pharmaceutical products from the EU surged by 13.5% in 2024, reaching a staggering €313.4 billion — a new high.
Imports, by contrast, edged up by just 0.5%, leaving the EU with a record trade surplus of €193.6 billion.
Germany led the charge, exporting €67.9 billion worth beyond EU borders, followed closely by Ireland (€56.6bn) and Belgium (€41.4bn).
The same trio also topped the import charts, underscoring their roles as continental pharma hubs.
Unsurprisingly, the United States was the EU’s biggest customer, snapping up 38.2% of all extra-EU exports (€119.8bn), trailed by Switzerland (€51.3bn) and the UK (€18.2bn).
But the transatlantic flow goes both ways — 38.3% of EU pharmaceutical imports came from the US, with Swiss and British firms also major players.
In an era of reshoring and strategic autonomy, Europe’s drugmakers are proving indispensable — and very much in demand.