Exports of diagnostic reagents exceeded $300 million in December last year. Annual exports also surpassed $2 billion.
According to the Korea Customs Service, exports of diagnostic reagents (HS3802) reached $310.9 million in December, up 941.2% YoY, surpassing $300 million for the first time. This is 12 times the annual exports in 2019.
Although it was only $100 million in 1Q, it surpassed $600 million for 2Q and 3Q and exceeded $842.27 million in 4Q quarter to $800 million.
The semi-annual exports also nearly doubled from $728.01 million in 1Q to $1445.68 million in 2Q. Compared to the same period last year, it has increased by almost ten times.
The annual exports also rose about eight times from 2019 to $2,173.69 million, reaching KRW 2.4 trillion.
At the same time, imports also increased steadily from $42.46 million in January to $84.15 million in December, but exports advanced significantly and continued a surplus for the ninth straight month since March.
In December, the surplus reached a record high of $225.94 million, and the quarterly surplus also exceeded $600 million.
The semi-annual surplus surpassed $1 billion, rising sharply from $395.88 million in 1Q to $1017.9 million in 2Q, and posted an annual surplus of $1412.97, KRW 1.564 trillion.
Meanwhile, the main customer of diagnostic reagents was Italy, with annual exports reaching $238.95 million, followed by the U.S. with $198.4 million.
With $172.14 million, India exceeded $100 million with other countries, Germany $113.37 million, Spain $113.37 million, Indonesia $178.5 million, and Brazil $161.2 million.
Despite nearly $200 million in exports, the U.S. imported more than $300 million, recording a deficit of more than $100 million, while Germany made a surplus of $6.6 million with over $100 million of imports.
In contrast, Italy had a surplus of nearly $235.22 million, almost unchanged from its exports, and India was in a surplus of $171.21 million, Spain $182.3 million, Indonesia $178.4 million, and Brazil $160.7 million.