[Newsmp] In the first quarter, Korea’s pharmaceutical trade deficit exceeded $900 million, with a deficit exceeding $300 million from the U.S. and Germany. On the contrary, Korea had a surplus of $300 million from Australia and $100 million from Taiwan.
According to the Korea Customs Service, Korea’s pharmaceutical products exports (HS30) in the first quarter amounted to $1.833 billion, down 20.4% from the same period last year.
During the same period, pharmaceutical products imports surged 34.0% to $2.777 billion, and the trade balance shifted from a surplus of $229.72 million to a deficit of $944.4 million.
By country, exports to Australia exceeded $300 million with $322.61 million, followed by the United States with $215.4 million.
Seven countries were above $100 million, including Germany with $147.59 million, Italy with $132.2 million, Japan with $127.82 million, Turkey with $110.3 million, and Taiwan with $151.17 million.
On the other hand, imports from the United States reached $577.83 million, and from Germany amounted to $491.42 million.
From Belgium with $186.28 million, China with $184.55 million, Ireland with $152.15 million, Switzerland with $148.43 million, Puerto Rico with $128.03 million, Japan with $125.5 million, and France with $148.6 million, the imports from nine countries exceeded $100 million.
In terms of trade balance, the surplus from five countries exceeded $50 million, including $315.61 million in Australia, $100.3 million in Taiwan, $82.39 million in Brazil, $65.19 million in Turkey, and $53.58 million in Vietnam.
In the meantime, the deficit from the United States reached $376.29, Germany $348.83 million, Belgium $155.36 million, Ireland $155.8 million, China $144.32 million, Puerto Rico $124.83 million, and Switzerland $117.53 million, seven countries surpassing $100 million, and France amounted to $98.84 million, Canada $63.14 million, and the United Kingdom $62.07 million.
