Top 10 importers of medical products
The United States led the main importers of medical products in the world during 2019, with external purchases of $ 193.1 billion, according to statistics from the World Trade Organization (WTO).
Other major importers of medical products were China, Germany, Belgium, the Netherlands, Japan, the United Kingdom, France, Italy and Switzerland.
The WTO Secretariat report tracks trade flows for products such as personal protection products, hospital and laboratory supplies, drugs and medical technology, while providing information on their respective tariffs.
Trade in medical products that have been described as critical and in serious shortage during the Covid-19 crisis totaled around $ 597 billion in 2019, representing 1.7% of total world merchandise trade.
The 10 largest importers of medical products accounted for almost three-quarters of total world exports of the products.
At the same time, the 10 largest buyers accounted for approximately two-thirds of world imports.
Importers of medical products
Commitments made under various WTO negotiations and agreements have helped reduce import tariffs on these products and improve market access, with an average tariff for Covid-19 medical products of 4.8%, lower than the average tariff. 7.6% for non-agricultural products in general.
Statistics show that 70 of the 164 WTO members impose a tariff of 5% or less on medical products.
Among them, four members do not impose tariffs at all: Hong Kong, China; Iceland; Macao, China; and Singapore. However, the report also identifies markets where tariffs remain high. Tariffs on face masks, for example, can be as high as 55% in some countries.
