KRW 1.5 billion (USD 1.32 million) surplus in immunityㆍvaccineㆍtoxin products, YoY 532.2%↑
With the medicinal and pharmaceutical trade balance in the black, immunityㆍvaccineㆍtoxin products have contributed greatly.
According to the Korea Customs Service, immunityㆍvaccineㆍtoxin products (HS3002) are in a surplus this year.
The nine-month export volume soared 92.1% YoY to USD 3.79715 billion, and import volume rose 30.1% to USD 2.25320 billion, a surplus of USD 1.54396 billion. It is +532.2% YoY.
Export volume jumped 135.2% YoY to USD 626.61 million in September, exceeding USD 600 million for the first time, and the monthly surplus ballooned 33.1% to USD 380.2 million.
Although the test kits (HS3822) are not classified as medicinal and pharmaceutical products (HS30), they also are noteworthy.
The trade balance of testing kits, which had narrowed its deficit until March due to the spread of COVID-19, turned to a profit from April.
Export volume has increased from January with USD 20.72 million, USD 25.32 million in February, USD 61.60 million in March, and USD 265.72 million in April, resulting in a surplus of more than USD 200 million.
In July, it has decreased to USD 13.654 million, but climbed back to USD 18.072 million in August and exceeded April’s record with USD 287.51 million in September.
During the same period, the surplus, which fell below the USD 100 million in July as import volume remained around USD 60 million, recovered to the USD 100 million in August with USD 118.77 million and achieved its all-time high with USD 220.71 million in September.
The nine-month export volume surged 639.4% YoY to USD 1.33361 billion, while the deficit, which was USD 264.31 million, turned in to a surplus of USD 87.55 million.
