Health exports reach new record, surpassing €4 billion in 2024
28 February 2025
Health exports closed the year 2024 by surpassing the 4 billion euro mark, a 21.7% increase compared to 2023, according to the latest data from the Portuguese Trade & Investment Agency (AICEP), based on figures from the National Institute of Statistics (INE). The total value of health sector exports reached 4.036 billion euros, with the growth trend continuing, now representing 5.1% of total national exports.
In terms of product categories, pharmaceutical preparations recorded the highest share, accounting for 82.8% of total exports, exceeding 3 billion euros. Following this, medical devices reached 500 million euros, while basic pharmaceutical products represented 3.8% of total exports.
Currently, Portugal’s health sector exports to 183 markets. The Top 5 destination markets remain unchanged, with the United States leading at 29.6% of total health exports in 2024, followed by Germany at 27.5%, where the year-on-year growth was most significant. Spain, France, and Belgium also rank among the top export destinations.
Joaquim Cunha, Executive Director of Health Cluster Portugal, stated that "the consistent and continuous growth of exports reflects the country’s strong focus on internationalization and Portugal’s capability as a supplier of innovative and high-quality products."
"The health sector has proven to be highly dynamic, even in an increasingly challenging global context, and continues to position itself as a key driver of Portugal’s economic and social development," he added.
The health sector in Portugal represents an annual turnover of over 40 billion euros, a gross added value of approximately 14 billion euros, encompasses nearly 118,000 companies, and employs around 424,000 people.