S. Korea's exports of medicine and medical supplies hit record high of US$ 4.67 bn in 2018
- 5 years ago
지난해 의약품 수출 5조원…바이오 주도로 '역대 최대'
Some good news for the South Korean economy, the nation's exports of medicine and medical supplies hit a record high last year, showing signs that Korea's medicine industry is growing both in quality and quantity.
Kim Mok-yeon reports.
South Korea's exports of local medicines and medical supplies surpassed the 5 trillion won mark in 2018, recording an all-time high in the sector.
The Ministry of Food and Drug Safety announced on Monday that the total exports of Korean medical products reached 4.67 billion U.S. dollars in 2018, up nearly 15 percent from the previous year.
The sector has been growing rapidly over the past 5 years, with an average annual growth rate of 17.9 percent since 2014.
By item, overseas shipments of finished medicines ready for consumption made up 66 percent of the exports, followed by bio medicines, which accounted for 33 percent.
By destination, exports to Europe were the highest with nearly 998 million dollars in sales, followed by Asia with 155 million dollars and North America with 126 million dollars.
Export growth was most evident in Turkey which jumped nearly 137 percent on-year, followed by Germany with 108 percent and Indonesia with 48 percent.
The ministry attributed the rise in exports to outstanding performances from local pharmaceutical companies on the global stage.
It said that with more local biomedicines receiving licenses from abroad, Korea's medicine industry is growing both in quality and quantity.
Kim Mok-yeon, Arirang News.
Some good news for the South Korean economy, the nation's exports of medicine and medical supplies hit a record high last year, showing signs that Korea's medicine industry is growing both in quality and quantity.
Kim Mok-yeon reports.
South Korea's exports of local medicines and medical supplies surpassed the 5 trillion won mark in 2018, recording an all-time high in the sector.
The Ministry of Food and Drug Safety announced on Monday that the total exports of Korean medical products reached 4.67 billion U.S. dollars in 2018, up nearly 15 percent from the previous year.
The sector has been growing rapidly over the past 5 years, with an average annual growth rate of 17.9 percent since 2014.
By item, overseas shipments of finished medicines ready for consumption made up 66 percent of the exports, followed by bio medicines, which accounted for 33 percent.
By destination, exports to Europe were the highest with nearly 998 million dollars in sales, followed by Asia with 155 million dollars and North America with 126 million dollars.
Export growth was most evident in Turkey which jumped nearly 137 percent on-year, followed by Germany with 108 percent and Indonesia with 48 percent.
The ministry attributed the rise in exports to outstanding performances from local pharmaceutical companies on the global stage.
It said that with more local biomedicines receiving licenses from abroad, Korea's medicine industry is growing both in quality and quantity.
Kim Mok-yeon, Arirang News.