Global exports may be down because of the various restrictions associated with the Covid-19 pandemic, but 2020 is shaping up to be an excellent year for German pharmaceutical companies.
Germany’s Federal Statistics Office calculated that pharmaceutical exports from the country from March to May rose by 14.3 percent annually. It terms of volume that meant an increase from EUR 19.3 billion to EUR 22.1 billion.
In March the industry even set a new record with a volume of EUR 8.2 billion – a 27.8 percent rise compared with March 2019.
Last year Germany exported EUR 80.7 billion in pharmaceutical products. The largest market was the United States, which imported EUR 13.8 billion or 17.1 percent of these goods. German pharmaceutical exports to non-EU countries have almost tripled since 2009: from EUR 14.7 billion to 42.7 billion in 2019.
Domestic German pharmaceutical turnover also rose by 20.2 percent year on year in March 2020. Experts attributed this development to pharmacies increasing stocks at the beginning of the coronavirus pandemic.