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Germany, France, Belgium, Italy and the Netherlands account for the majority of trade in pharmaceutical products across Europe, according to a new report.

Logista Freight found the five countries account for 68% of all products traded across the 27 countries of the EU.

The Madrid-headquartered logistics company, which specialises in long-haul logistics and services across Europe, said the highest volume trade routes were from Ireland to Belgium, from Germany to the Netherlands and from the Netherlands to Germany.

Its analysis concluded that the pharmaceutical sector moves over three million tonnes of its products on an annual basis, amounting to goods that are worth over €250bn.

The report offers in-depth analysis of trade in each country, including it trading partners, product imports and exports, and the most frequent modes of transport that are used.

Álvaro González-Escalada, general manager of Logista Freight, said: “We want to provide a comprehensive overview of how pharmaceutical trade is moving in Europe and identify the major freight corridors and the trends that will revolutionise the future.

“Our aim is to offer stakeholders in the industry a useful tool to optimise their strategies in a market that’s as dynamic and complex as this one.”

Logista found the EU’s largest markets outside its own borders were the US (worth €92.4bn), Switzerland (€42.7 bn), China (€21.1bn), the UK (€17bn) and Japan (€9.6bn).