Pharmaceutical industry and its foreign trade is an important part of Guangdong’s economy，including pharmaceutical manufacturing and medical devices manufacturing. Through in-depth study，the following findings on Guangdong’s pharmaceutical industry are obtained. First，from 2000 to 2019，except for the surplus in 2010，the balance of import and export of pharmaceutical products in Guangdong was in deficit in other years，and the deficit has been constantly expanding. Second，Guangdong’s medical devices manufacturing have a stronger export competitive advantage than its pharmaceutical manufacturing. Third，compared with the export of chemical raw materials and chemical preparations，the export of Chinese medicinal materials and proprietary Chinese medicines in Guangdong declined especially seriously. Fourth，since 2010，the proportion of foreign-funded enterprises in the output value and export of Guangdong’s pharmaceutical manufacturing industry has been declining，and the competitiveness and position have been weakened. In addition，the contribution of foreign enterprises to Guangdong’s pharmaceutical manufacturing investment has been declining since 2006. Fifth，under the influence of Sino-US trade friction，Guangdong’s pharmaceutical manufacturers mainly maintain their export to the US by lowering prices. Sixth，pharmaceutical enterprises in Guangdong need to increase investment in research and development in the future，otherwise，the gap with other several pharmaceutical manufacturing strong provinces would get bigger. Seventh，the proportion of export revenue of new pharmaceutical products in Guangdong has been lower than the national average level for a long time，and is also significantly lower than that of other strong pharmaceutical manufacturing provinces，indicating that the export competitiveness of new pharmaceutical products in Guangdong is weak. Finally，based on the characteristics，facts and weaknesses of the foreign economic and trade development of Guangdong’s pharmaceutical industry，this report gives some policy suggestions with strong pertinence.