In 2023, Ireland led the global pharmaceutical industry trade balance with a value of $93.33 billion, showing a significant year-on-year variation of 17.7%. Switzerland followed with a trade balance value of $70.48 billion, marking an 8.19% increase from the previous year. The United States, meanwhile, had a substantial negative trade balance of -$85.03 billion, indicating a major dependence on pharmaceutical imports.
Countries such as Germany, Belgium, and Italy maintained stable trade balances with no significant variation, reflecting mature and consistent pharmaceutical industries. Conversely, countries like China and Russia continued to experience substantial negative trade balances, highlighting a considerable gap between domestic production and demand.
Looking ahead, key trends to watch include the potential increase in trade balance for emerging pharmaceutical markets, the impact of advancements in biotechnology on trade flows, and the ongoing influence of health policies and trade agreements on global pharmaceutical trade dynamics.
Top countries in Pharmaceutical Industry Trade Balance by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Ireland | 93,330 | 2023 | +13.05% | +17.7% | View data |
| 2 | 2 Switzerland | 70,480 | 2023 | +7.49% | +8.19% | View data |
| 3 | 3 Germany | 37,700 | 2023 | +3.46% | View data | |
| 4 | 4 Belgium | 29,200 | 2023 | +26.84% | View data | |
| 5 | 5 Denmark | 16,380 | 2023 | +4.83% | +8.14% | View data |
| 6 | 6 France | 6,720 | 2023 | +6.81% | +4.61% | View data |
| 7 | 7 Sweden | 5,920 | 2023 | +2.08% | +4.55% | View data |
| 8 | 8 Italy | 4,770 | 2023 | +1.53% | View data | |
| 9 | 9 Hungary | 948.74 | 2023 | +12.91% | View data | |
| 10 | 10 United Kingdom | 576.3 | 2023 | +455.26% | View data |