UK pharmaceutical products import value from the EU 2016-2020
In 2020, the United Kingdom imported nearly 21 billion U.S. billion dollars’ worth of pharmaceutical products from the rest of the European Union. This is a significant decrease compared to years befor the Brexit when imports were up to 26 billion dollars. However, the impact of the COVID-19 pandemic might also be a cause for this development.
Which countries are the products coming from?
Of the EU, the Netherlands had the highest value of pharmaceutical products imported into the UK, amounting to some 5.8 billion British pounds in 2020. Followed by Germany at approximately 3.9 billion British pounds. The UK had a negative trade balance with the Netherlands of over four billion British pounds, which means the UK imports a considerable amount more pharmaceutical goods from there than it exports.
Impact of Brexit
In a 2018 survey of EU influencers, 32 percent believed that EU pharmaceutical companies will be negatively affected by Brexit, while 41 percent believes that trade barriers will potentially impact the supply of medicines. Additionally, another survey of pharmaceutical industry board level executives revealed that half of those question indicated that Brexit had impacted on the attractiveness of the UK pharmaceutical market.
Which countries are the products coming from?
Of the EU, the Netherlands had the highest value of pharmaceutical products imported into the UK, amounting to some 5.8 billion British pounds in 2020. Followed by Germany at approximately 3.9 billion British pounds. The UK had a negative trade balance with the Netherlands of over four billion British pounds, which means the UK imports a considerable amount more pharmaceutical goods from there than it exports.
Impact of Brexit
In a 2018 survey of EU influencers, 32 percent believed that EU pharmaceutical companies will be negatively affected by Brexit, while 41 percent believes that trade barriers will potentially impact the supply of medicines. Additionally, another survey of pharmaceutical industry board level executives revealed that half of those question indicated that Brexit had impacted on the attractiveness of the UK pharmaceutical market.
