Exports of Medicines Increased by 1.6% in the First Semester

Exports of medicines maintain the rate. During the first six months of the year, the sale of pharmaceuticals from Spain abroad has increased by 1.6% compared to the same period of the previous year, according to data published today by Icex Expaña Exports and Investments. In total, exports have reached a value of €12.5 billion.

The slight increase occurs after a start to the year with strong increases but after a second quarter with falls in sales. From January to March, sales increased every month. In January, exports grew by 8.4%, to €1.65 billion, while in February they shot up 31.8%, to €2.7 billion.

In the third month of the year, the sale of pharmaceutical products abroad registered the highest number of the year in absolute terms, with €2.7 billion, which represented a year-on-year increase of 10.3%.

However, April recorded the biggest drop of the year, with a drop in exports of 20.1%, up to 1.3 billion. In May, the decrease moderated, recoiling by 12.2%, to €1.98 billion. In June, exports of pharmaceutical products stood at €1.74 billion, 13.6% less than a year ago.

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Despite the fall in the second quarter, exports of medicines have managed to reach their record in the first half of the year, following the trend of the Spanish economy

Spanish exports in the first half of the year reached their all-time high after growing by 4.7% in the first half of the year, up to €199.95 billion.

However, imports of medicines are below those registered a year ago. In the first semester, drug imports reached €1.9 billion, compared to €13.11 billion a year ago, 9.2% less.

Imports have registered year-on-year falls in the first five months of the year, and have only registered a positive rate in June, with a growth of 24.7%, up to €2.15 billion.

During this first half of the year, Switzerland has fallen as the leading supplier of Spanish pharmaceuticals, giving way to the United States in first position, with €3.26 billion. In second position was Germany, with sales of 1.73 billion, followed by the Swiss Confederation, with €1.11 billion.

In the list of clients, Belgium is the largest destination for Spanish exports of medicines, maintaining the position from a year ago, with 4.8 billion. In second position is Switzerland, with 2.15 billion, and Germany, with €1.07 billion.

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(Featured image by jnittymaa0 via Pixabay)

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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