In 2023, Germany led European chemical and pharmaceutical production with €197.02 billion, although it experienced modest growth at 0.33%. Italy followed but faced a decline of 0.26%, standing at €78.14 billion. The Netherlands and Belgium showed strong performance with respective increases of 1.21% and 1.94%, reaching €59.28 billion and €55.24 billion. Austria marked significant growth at 1.97% to €19.9 billion. Finland and Greece also saw solid growth rates of 1.82% and 3.13%, respectively. Slovenia and Luxembourg reported modest increases of 1.4% and 2.07%, while Estonia slightly declined by 0.017%, standing at €0.48 billion.
Future trends to watch:
• The ongoing innovation and technological advancements within Germany may further consolidate its leadership despite modest recent growth.
• Italy and Estonia need to address declining trends to regain momentum, possibly through strategic investments or policy shifts.
• Countries like Austria, Belgium, and the Netherlands are expected to continue leveraging their recent growth trajectories, potentially drawing investments to their chemical and pharmaceutical sectors.
Top countries in Production Volumes of Chemical and Pharmaceutical Products by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 197,020 | 2023 | +0.79% | +0.33% | View data |
| 2 | 2 Italy | 78,140 | 2023 | +0.31% | -0.26% | View data |
| 3 | 3 Netherlands | 59,280 | 2023 | +1.43% | +1.21% | View data |
| 4 | 4 Belgium | 55,240 | 2023 | +1.37% | +1.94% | View data |
| 5 | 5 Austria | 19,900 | 2023 | +1.88% | +1.97% | View data |
| 6 | 6 Finland | 11,310 | 2023 | +1.61% | +1.82% | View data |
| 7 | 7 Greece | 5,320 | 2023 | +1.69% | +3.13% | View data |
| 8 | 8 Slovenia | 3,710 | 2023 | +1.41% | +1.4% | View data |
| 9 | 9 Luxembourg | 521.33 | 2023 | +2.25% | +2.07% | View data |
| 10 | 10 Estonia | 480.78 | 2023 | +0.17% | -0.017% | View data |
