In 2024, the United Kingdom imported around billion U.S. dollars’ worth of pharmaceutical products from the rest of the European Union. This was a significant decrease compared to years before Brexit, when imports were up to billion dollars.
Which countries are the products coming from?
Of the EU, Germany had the second-highest value of pharmaceutical products imported into the UK, amounting to some billion British pounds in 2023. The UK had a negative trade balance with Germany of around 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, percent believed that EU pharmaceutical companies would be negatively affected by Brexit, while percent believed that trade barriers would potentially impact the supply of medicines. Additionally, another survey of pharmaceutical industry board-level executives revealed that half of those questioned indicated that Brexit had impacted the attractiveness of the UK pharmaceutical market.
We’re happy to help
Get in touch with us for additional information
Feel free to contact us anytime. We will respond to your inquiry as quickly as possible.