Pharmacy of the World or at the Mercy of the World Economy? Germany’s Foreign Trade in the Market for Drugs and Medical Equipment

In 2019, Germany will have a surplus in the trade of pharmaceuticals and medical equipment. While 72 percent of its pharmaceutical imports come from EU member states, only 0.8 percent of the drugs are imported from China and India together. Germany receives 64 percent of its medical imports from 31 or more countries. This indicates a high degree of diversification in the procurement of these products. Nevertheless, a national stockpile of medicines should be built up similar to strategic oil reserves and the supply should be further spread across countries, regions, and continents. A move away from global trade and a European policy of self-sufficiency in the pharmaceutical sector is not recommended, as it, too, does not sufficiently guarantee security of supply in times of crisis.