diff --git a/CMakeLists.txt b/CMakeLists.txt
index 6350ff5..e6456cf 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -174,6 +174,7 @@ endif()
 option(PHYSFS_BUILD_SHARED "Build shared library" TRUE)
 if(PHYSFS_BUILD_SHARED)
     add_library(physfs SHARED ${PHYSFS_SRCS})
+    target_compile_definitions(physfs PRIVATE PHYSFS_BUILD_SHARED PUBLIC PHYSFS_SHARED)
     set_target_properties(physfs PROPERTIES MACOSX_RPATH 1)
     set_target_properties(physfs PROPERTIES VERSION ${PHYSFS_VERSION})
     set_target_properties(physfs PROPERTIES SOVERSION ${PHYSFS_SOVERSION})
diff --git a/src/physfs.h b/src/physfs.h
index d182ff7..87af742 100644
--- a/src/physfs.h
+++ b/src/physfs.h
@@ -223,10 +223,13 @@
 extern "C" {
 #endif
 
-#if defined(PHYSFS_DECL)
-/* do nothing. */
-#elif defined(_MSC_VER)
+#ifdef PHYSFS_SHARED
+#ifdef _MSC_VER
+#ifdef PHYSFS_BUILD_SHARED
 #define PHYSFS_DECL __declspec(dllexport)
+#else
+#define PHYSFS_DECL __declspec(dllimport)
+#endif
 #elif defined(__SUNPRO_C)
 #define PHYSFS_DECL __global
 #elif ((__GNUC__ >= 3) && (!defined(__EMX__)) && (!defined(sun)))
@@ -234,6 +237,9 @@ extern "C" {
 #else
 #define PHYSFS_DECL
 #endif
+#else
+#define PHYSFS_DECL
+#endif
 
 #if defined(PHYSFS_DEPRECATED)
 /* do nothing. */