German pharmaceutical exports nearly doubled in ten years

Berlin.

In the past year there has been a lot of talk about Germany as a pharmaceutical site that needs to be bolstered. Under the impression of the Corona crisis, it seems that the perception is somewhat distorted in the direction of masks, gowns, and the like. Because according to a study conducted by Prognos on behalf of the pharmaceutical association vfa, exports of “made in Germany” pharmaceutical products nearly doubled between 2008 and 2019, to more than 80 billion euros. Overall, it is said, pharmaceuticals accounted for a 6 percent share of the total value of German exports of about € 1.3 trillion in 2019.

According to the study, the pharmaceutical industry is one of the five domestic economic sectors with the highest trade surplus. In 2019, more pharmaceutical goods were exported than imports for 24.7 billion euros. For comparison: in 2008 the export surplus was 13.1 billion euros. Market researchers recorded the highest surplus in 2018 at 26.1 billion euros.

And even the epidemic has so far not damaged the pharmaceutical industry, according to the latest figures. “In the second quarter of 2020, when German exports collapsed by 24 percent due to Corona, pharmaceutical exports grew very stable, with an increase of 7.0 percent compared to the same period the previous year,” the VFA statement said on Friday. (cw)