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Association of Pharmaceutical and Medical Economy

The total gross value added (GVA) generated by the Pharmaceutical and medical economy was around 2.4 billion EUR in 2021, which is 5.5% of the total GVA of the country and 4.5% of Serbia’s GDP. Observed by activities, nearly 2.1 billion EUR is created by human health activities (87.4%). The other activities have a negligible contribution. From 2017 to 2021, the GVA share of the pharmaceutical and medical economy in total GVA and GDP of the Republic of Serbia shows an upward trend.

The export of pharmaceutical products in 2022 amounted to 368.4 million EUR which is 1.3% of total export. The export of these products is more than the previous year by 30.0%. This industry is hiring 147.2 thousand workers (6.5% of total employment) and most are employed in human health services (132.5 thousand). In the pharmaceutical industry in 2022 was operating 149.0 active companies and 6.1 thousand entrepreneurs which is in total 6.2 thousand. 

Share of GVA by Pharmaceutical and Medical Economy in Total GVA (in %)

Foreign Trade (in EUR billion)

Active Companies and Entrepreneurs in Pharmaceutical and Medical Economy

Employment in Pharmaceutical and Medical Economy by Activities (CA 2010)

Industrial Production Indices in the Period 2018-2022, Compared to the Averages of Previous Year

Sales of Pharmaceutical and Medical Economy by Activities (CA 2010), in 000 EUR

For more information about economic analysis from this industry and our other activities, please contact Association for Pharmaceutical and medical economy on email farmacija@pks.rs.