Germany: Pharmaceutical industry defies coronavirus crisis, exports up 14.3%Christian Fernsby ▼ | July 22, 2020
The pharmaceutical industry is one of the few branches which recorded large increases in exports at the beginning of the corona crisis.
Federal Statistical Destatis
Topics: Germany. pharmaceutical
From March to May 2020, the value of exports of pharmaceutical products increased by 14.3% to 22.1 billion euros compared with the same period a year earlier (March to May 2019: 19.3 billion euros).
For comparison: overall, exports were down by 22.6% from March to May 2020 compared the same period a year earlier.
In March 2020, exports of pharmaceutical products even reached a record monthly high since these statistics began, increasing by 27.8% to 8.2 billion euros compared with the same month a year earlier.
Export orientation in pharmaceutical industry is above average: export surplus was 27.6 billion euros in 2019.
Pharmaceutical industry records increase in turnover of 1.1% (March to May 2020 compared with the same period a year earlier).
Domestic turnover: +20.2% (March 2020 compared with March 2019) because of stockpiling orders by pharmacies at the beginning of the corona pandemic. ■