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Bulk medicines: top exporters and importers (2024)

In 2024, world trade in bulk medicines totaled $16.9 billion (233 thousand tonnes). The top exporters were Ireland (18%), the United States (15%) and Portugal (14%); the top importers were Belgium (20%), the United States (12%) and Germany (10%). Compared with 2019, the value rose 30%.

Summary

World trade
$16.9billion
Tonnes
233thousand tonnes
Price per tonne
$62,253
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. Ireland$3.1 billion · 18.3%
  2. United States$2.5 billion · 15%
  3. Portugal$2.3 billion · 13.7%
  4. Germany$953 million · 5.6%
  5. China$888 million · 5.3%
  6. Switzerland$878 million · 5.2%
  7. Italy$683 million · 4%
  8. France$679 million · 4%
  9. India$616 million · 3.7%
  10. Belgium$530 million · 3.1%
    re-exports
  11. Singapore$378 million · 2.2%
    re-exports
  12. Spain$374 million · 2.2%
  13. Netherlands$348 million · 2.1%
    re-exports
  14. Denmark$347 million · 2.1%
  15. United Kingdom$305 million · 1.8%
  16. Japan$203 million · 1.2%
  17. Sweden$161 million · 0.96%
  18. Poland$143 million · 0.85%
  19. Austria$142 million · 0.84%
  20. Slovenia$120 million · 0.71%

Top importers

  1. Belgium$3.3 billion · 19.7%
    re-exports
  2. United States$2.1 billion · 12.4%
  3. Germany$1.6 billion · 9.5%
  4. Canada$1.3 billion · 7.6%
  5. Spain$704 million · 4.2%
  6. Ireland$664 million · 3.9%
  7. Japan$559 million · 3.3%
  8. Netherlands$530 million · 3.1%
    re-exports
  9. Saudi Arabia$447 million · 2.7%
  10. China$435 million · 2.6%
  11. Italy$425 million · 2.5%
  12. Denmark$397 million · 2.4%
  13. Poland$227 million · 1.3%
  14. Hungary$218 million · 1.3%
  15. Switzerland$200 million · 1.2%
  16. Russia$198 million · 1.2%
  17. Austria$189 million · 1.1%
  18. United Kingdom$184 million · 1.1%
  19. Brazil$176 million · 1%
  20. Algeria$165 million · 0.97%

Trend

Who sells it

Ireland has been the top exporter since 2023

Value in USD billions. The five largest exporters in 2024.

  • Ireland 3.1
  • United States 2.5
  • Portugal 2.3
  • Germany 0.95
  • China 0.89

Source: CEPII BACI

Show the numbers
Country19952024
Ireland0.313.1
United States0.342.5
Portugal0.022.3
Germany0.460.95
China0.050.89

Price

Implied price

The price per tonne rose 126% since 1995

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $62,253

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$27,499
1996$27,810
1997$28,769
1998$27,692
1999$27,536
2000$27,499
2001$22,805
2002$44,376
2003$53,791
2004$31,703
2005$41,041
2006$39,665
2007$41,988
2008$41,413
2009$36,096
2010$17,305
2011$49,166
2012$47,084
2013$42,031
2014$29,192
2015$41,564
2016$49,370
2017$57,973
2018$72,620
2019$50,221
2020$50,777
2021$44,520
2022$51,999
2023$54,336
2024$62,253

What it includes

  • 3003 · Bulk medicines

Products in the same chapter

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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