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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 2.0 billion EUR in 2020, which is 5.2% of the total GVA of the country and 4.5% of Serbia’s GDP. Observed by activities, nearly 1.8 billion EUR was created by human health activities (86.4%). The other activities have a negligible contribution. From 2016 to 2018, GVA's share of the pharmaceutical and medical economy in total GVA and GDP of the Republic of Serbia shows a downward trend, but from 2018 to 2020 shows an upward trend.

Export of pharmaceutical products in 2021 amounted to 283.3 million EUR which is 1.3% of total export but the export of these products is lower than the previous year by 3.0%. This industry is hiring 144.3 thousand workers (6.5% of total employment) while the most are employed in human health services (129.6 thousand). In the pharmaceutical industry in 2021 was operating 186 active companies and 5.8 thousand entrepreneurs which is in total 6.0 thousand. 

Share of GVA by Pharmaceutical and Medical Economy in Total GVA and GDP (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 2016-2020, 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.