RSS   Newsletter   Contact   Advertise with us

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.
Destatis
Federal Statistical   Destatis
The Federal Statistical Office (Destatis) reports that this trend is continuing.

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.


 

MORE INSIDE POST