Portugal’s health sector has recorded impressive growth in exports in 2024, surpassing the 4,000 million euro mark, which represents an increase of 21.6% on the previous year. This increase reflects the dynamism of the sector, which remains strong even in a challenging global context.
Growth in Health Exports in 2024
- In 2024, Portugal’s health exports reached 4,036 million euros, marking an increase of 7% compared to 2023.
- The health sector now represents 1% of Portugal’s total national exports, consolidating its position as one of the country’s main economic pillars.
Main Destination Markets for Health Exports
- United States: The largest destination market, with a 6% share of Portugal’s health product exports.
- Germany: The second largest market, with 27.5% of the volume of health exports.
- Other important markets include Spain, France and Belgium, which are also among the main destinations for Portuguese exports.
Potential Impact of US Tariffs on Health Exports
- Exports to the United States may be affected by the threats of import tariffs proposed by former President Donald Trump, especially for the pharmaceutical and medical devices sector.
- Despite this, the uncertainty over the application of these tariffs makes it difficult to predict the immediate effects on healthcare exports to the US.
Composition of Health Exports in 2024
- Pharmaceutical preparations: These account for 8% of Portugal’s total health exports.
- Medical devices: With an export volume of 500 million euros, they are an important segment in the sector’s growth.
- Basic pharmaceutical products: accounted for 8% of the sector’s total exports.
Internationalization and Innovation: Success Factors
- Joaquim Cunha, executive director of Health Cluster Portugal, points out that the consistent growth in health exports reflects the commitment to internationalization and the quality of Portuguese products.
- The health sector continues to be an engine of economic and social development for the country, with a strong presence in international markets.
Conclusion: Portugal’s Health Sector Grows Stronger Globally
The success of Portugal’s health exports in 2024 confirms the strength of the sector, which continues to expand and consolidate its position as one of the country’s largest export sectors. Even in the face of a challenging global scenario, the Portuguese health sector continues to innovate and establish itself as a supplier of high-quality health products on the global market.
