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September bio-health exports decline, but pharmaceuticals increase
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September bio-health exports decline, but pharmaceuticals increase
  • Hyeokgi Lee, Newsmp
  • 승인 2022.10.09 16:18
  • 댓글 0
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Bio-health industry, down for the third consecutive month in the second half of the year
Pharmaceuticals exports growth exceeds 30%... double-digit growth for two consecutive months

[Newsmp] The global trend of endemic is reflected in the bio-health industry’s export performance.

The bio-health industry’s exports in September fell 4.5% year-on-year to $1.328 billion, according to the Ministry of Trade, Industry and Energy.

This year, exports of the bio-health industry recorded double-digit growth for five consecutive months until May as increased demand for diagnostic reagents due to the spread of Omicron variant.

However, bio-health exports shrank to 3.8% when Omicron variant peaked in June, and in July, when the second half began, the growth turned to a negative 12.2%.

The negative growth decreased to 0.05% in August, but in September, it expanded to 4.5%.

Nevertheless, the nine-month cumulative exports rose 11.4% year-on-year to $12.974 billion, maintaining double-digit growth, but fell further from the 13% increase until August, approaching a single digit.

Exports of the bio-health industry are diminishing due to a decrease in demand for diagnostic reagents, but exports of pharmaceutical products continued to grow in double digits for the second consecutive month.

Previously, the Ministry of Commerce, Industry and Energy reported that pharmaceuticals exports in August amounted to about $900 million, a 45.6% increase from the same period last year.

However, according to the revised report this month, pharmaceuticals exports in August fell to about $700 million, and the growth rate decreased by 15.0% compared to the same period last year.

Nonetheless, pharmaceutical products exports in September amounted to $939 million, exceeding $900 million again in six months following $1.164 billion in March, and the increase was 37.7% compared to the same period last year, surpassing 10% for two consecutive months.

The nine-month cumulative exports also rose 25.7% year-on-year to $7.585 billion, and the cumulative increase in exports moved upward to the 25% level again.


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