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Industry revenue of »manufacture of pharmaceutical preparations« in Belgium 2011-2023

Belgium has for long been one the pharmaceutical manufacturing hubs in Europe. Strong partnerships between universities, research centres and manufacturers, along with generous government grants, has ensured continued R&D and innovation in the sector. In fact, related R&D investment in the country valued as much as 3.6 billion Euros in 2018. This is expected to be the case over the short to medium term as well with revenues projected to increase from 24.7 billion U.S. dollars in 2018 to 31.4 billion U.S. dollars in 2023. The industry is also one of the major employers in the country with over 37,000 people employed in 2018.

Belgium’s manufacturing prowess also makes it one of the major exporters of pharmaceuticals in the world. In fact the total export value increased from 39.8 billion Euros in 2014 to almost 43 billion Euros in 2018. The country also imports a wide variety of pharmaceutical products such as medicament mixtures, human & animal blood, pharmaceutical goods and packaged dressings.

Industry revenue of »manufacture of pharmaceutical preparations« in Belgium from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Belgium. The industry “manufacture of pharmaceutical preparations“ has the code “C212“.

Details on the methodology can be found here.

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