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Wednesday 29 May 2024

A third of global trade in medicines and vaccines comes from EU countries; they are also WHO’s largest funders

 The European Union (“EU”) exports over $6 trillion in products annually. The bloc boasts a diversified economy encompassing fuel and mineral industries, cars, vaccines and technology.

Regarding vaccines and packaged medicines, EU countries make up at least 36% of global trade, with Germany being by far the largest exporter of these products from the bloc.

Is it merely a coincidence that Germany is the World Health Organisation’s (“WHO’s”) largest contributor and the European Commission is the fifth largest contributor?

A week ago, Visual Capitalist published a graphic of the EU member states top exports as of 2022.

Belgium, Bulgaria, Croatia, Finland, Greece, Lithuania, Sweden and the Netherlands have petroleum gas or refined petroleum as their top export product.

Besides petroleum, automobiles and automobile parts significantly contributed to the EU economy. Austria, Czech Republic, Germany, Hungary, Portugal, Poland, Romania, Slovakia and Spain had automotive products as their top exports.

Other products helped diversify the EU economy, Visual Capitalist wrote. France’s top exports were planes, helicopters and/or spacecraft, while Italy and Denmark excel in the packaged medicines industry. Ireland has a significant pharmaceutical industry, hosting major companies such as Pfizer, Johnson & Johnson, Merck and Novartis....<<<Read More>>>>