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Medicines: top exporters and importers (2024)

In 2024, world trade in medicines totaled $485 billion (6.1 million tonnes). The top exporters were Germany (13%), Switzerland (9%) and Italy (9%); the top importers were the United States (18%), Switzerland (10%) and Germany (7%). Compared with 2019, the value rose 24%.

Summary

World trade
$485billion
Tonnes
6.1million tonnes
Price per tonne
$79,666
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. Germany$64.1 billion · 13.2%
    see destinations
  2. Switzerland$43.9 billion · 9%
    see destinations
  3. Italy$41.5 billion · 8.6%
    see destinations
  4. United States$40.7 billion · 8.4%
    see destinations
  5. Ireland$33.3 billion · 6.9%
    see destinations
  6. France$27.6 billion · 5.7%
    see destinations
  7. India$26 billion · 5.4%
    see destinations
  8. Slovenia$23.9 billion · 4.9%
    see destinations
  9. Belgium$22.2 billion · 4.6%
    re-exports · see destinations
  10. United Kingdom$17.4 billion · 3.6%
    see destinations
  11. Spain$14.9 billion · 3.1%
    see destinations
  12. Denmark$14.1 billion · 2.9%
    see destinations
  13. Netherlands$13.6 billion · 2.8%
    re-exports · see destinations
  14. China$11.1 billion · 2.3%
    see destinations
  15. Canada$10.2 billion · 2.1%
    see destinations
  16. Sweden$9.1 billion · 1.9%
    see destinations
  17. Austria$8.7 billion · 1.8%
    see destinations
  18. Hungary$8 billion · 1.7%
    see destinations
  19. Japan$6.5 billion · 1.3%
    see destinations
  20. Singapore$5.9 billion · 1.2%
    re-exports · see destinations

Top importers

  1. United States$87.2 billion · 18%
    see sources
  2. Switzerland$47.4 billion · 9.8%
    see sources
  3. Germany$32.7 billion · 6.7%
    see sources
  4. Belgium$22.4 billion · 4.6%
    re-exports · see sources
  5. China$20.1 billion · 4.1%
    see sources
  6. Italy$18.3 billion · 3.8%
    see sources
  7. United Kingdom$17.7 billion · 3.6%
    see sources
  8. France$17.3 billion · 3.6%
    see sources
  9. Japan$14.7 billion · 3%
    see sources
  10. Spain$14.2 billion · 2.9%
    see sources
  11. Netherlands$12.4 billion · 2.6%
    re-exports · see sources
  12. Canada$9.8 billion · 2%
    see sources
  13. Slovenia$8.5 billion · 1.8%
    see sources
  14. Russia$8 billion · 1.7%
    see sources
  15. Poland$7.4 billion · 1.5%
    see sources
  16. Australia$5.9 billion · 1.2%
    see sources
  17. Saudi Arabia$5.6 billion · 1.2%
    see sources
  18. Brazil$5.5 billion · 1.1%
    see sources
  19. Ireland$5.4 billion · 1.1%
    see sources
  20. Czechia$5.2 billion · 1.1%
    see sources

Trend

Who sells it

Germany has been the top exporter since 2003

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

  • Germany 64.1
  • Switzerland 43.9
  • Italy 41.5
  • United States 40.7
  • Ireland 33.3

Source: CEPII BACI

Show the numbers
Country19952024
Germany6.264.1
Switzerland5.243.9
Italy2.241.5
United States2.440.7
Ireland1.733.3

Price

Implied price

The price per tonne rose 79% since 1995

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

  • 2024: $79,666

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$44,501
1996$32,977
1997$32,128
1998$42,387
1999$35,839
2000$41,954
2001$45,579
2002$50,604
2003$60,293
2004$61,821
2005$67,732
2006$74,432
2007$83,509
2008$83,801
2009$81,475
2010$67,533
2011$82,776
2012$82,599
2013$79,044
2014$80,612
2015$79,429
2016$81,418
2017$74,894
2018$81,043
2019$81,272
2020$82,229
2021$86,791
2022$80,669
2023$82,761
2024$79,666

What it includes

In measured doses or packaged for retail sale.

  • 3004 · Medicines in measured doses or retail packs

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.

See all products