[Newsmp] Exports of the bio-health industry, which maintained double-digit growth this year, slowed significantly in June. On the other hand, pharmaceutical exports expanded, reaching the 50% growth level.
According to the Ministry of Trade, Industry and Energy, exports of the bio-health industry rose 3.8% year-on-year to $1.385 billion in June, growing for a seventh straight month.
This is the highest monthly export value of the bio-health industry in June, and the increase in diagnostic kits was maintained in addition to the expansion of the biosimilars market share, the ministry said.
However, the double-digit growth that has continued for five months since January has receded, and the proportion of exports, which exceeded 3% in December, also decreased to 2.4%.
Nevertheless, the cumulative exports of the bio-health industry in the first half recorded $9.248 billion, up 20.2% compared to the same period of last year, maintaining a growth rate of more than 20%.
Unlike the slowing growth of the bio-health industry in the export sector, pharmaceutical products have further expanded their growth.
This year, pharmaceutical exports started with a growth rate of 34.9% in January and have sustained a steady growth rate of over 20%.
Furthermore, in May, the exports exceeded 40% with 40.4%, and in June, the growth was further expanded to 48.7%, approaching the 50% level.
Monthly exports in June were also close to the $1 billion mark with $994 million, the second-highest export performance in the first half after $1.164 billion in March.
This brought the cumulative exports of $5.582 billion in the first half, a 36.3% increase from the same period of the previous year, exceeding the $5 billion mark.
