Swedish pharmaceutical exports continue to develop positively according to new figures from Statistics Sweden (SCB).

Sweden’s total exports increased by 4 percent in value and two percent in volume during the second quarter of 2024 compared to the same time period in 2023. Pharmaceutical exports increased during the period by 9 percent in value and 3 percent in volume.

“The fact that we see a steady and significant increase in pharmaceutical exports shows the continuous global demand for Swedish medical innovations. This is not only a sign of the strength of our research pharmaceutical companies, but also shows the importance of the sector for Sweden’s economy and prosperity,” says Frida Lundmark, expert in life science at Lif – the research pharmaceutical companies.

During January to June, pharmaceuticals accounted for 7.7 percent of Sweden’s total export value. During the first half of 2024, Sweden exported medicines worth nearly SEK 82 billion. During the same period, medicines worth SEK 40 billion were imported. This means that pharmaceuticals have a positive trade net of almost SEK 42 billion and strongly contribute to a positive Swedish trade balance.

The importance of ongoing political processes

Frida Lundmark highlights the importance of ongoing political processes to ensure continued success.

“The revision of the Swedish life science strategy and the upcoming research and innovation bill are crucial to strengthen the conditions for our companies to continue developing and exporting vital medicines. It is through long-term political decisions that we can ensure that Sweden’s life science sector remains competitive and continues to contribute to both Swedish welfare and global health,” says Frida Lundmark.

Source: Lif Sweden

Photo of Frida Lundmark: Gunilla Lundström