The Belgian biopharmaceutical sector is experiencing a concerning "trend reversal" with slight declines in exports and employment, according to the national biopharmaceutical federation, pharma.be.
The biopharmaceutical sector remains Belgium's largest exporter, with nearly €216 million worth of products exported daily. However, exports in this sector saw a slight decline last year. Total exports in 2024 amounted to €79.0 billion, a decrease of 1.4% compared to the previous year, according to data released by the federation on Thursday.
The United States remains the sector's top trading partner, accounting for nearly 24% of Belgian biopharmaceutical exports.
"This share is significantly higher than the US' share in total Belgian exports, which is only 6.8%. This also means the biopharmaceutical sector is highly dependent on the US and would be among the hardest hit by a disruption in American demand," the sector warned.
Employment data further indicates a trend reversal in this sector. Last year, employment decreased by 0.5% for the first time in several years, pharma.be reports.
"It is clear that we are no longer in the familiar 'business as usual' situation of recent years, where we only saw growth figures and positive developments in terms of employment and exports," said the federation's CEO, Caroline Ven.
She urges Belgium and Europe to "rethink their strategy," especially as the US, under the new Donald Trump administration, has decided to impose new 20% tariffs on the bloc starting from 9 April.
