Thirty-five percent of South Korea’s pharmaceutical supplies are imported products 

The share of imported products in pharmaceuticals is approaching the 35% level.

According to the Statistics Korea’s 2020 manufacturing domestic supply index, the annual domestic supply index of pharmaceuticals last year was 131.9 (based on 100 in 2015), exceeding 130 for the first time since 2015.

Starting at 100 in 2015, the domestic supply index of pharmaceuticals exceeded 110 in 2017, and surpassed 120 in 2019, and has increased to 130 in 2019 in a year.

The supply index of domestic products rose 8.0p from 2019 to 128.0 last year, while imported products gained 10.1p to 141.5 and entered the 140-point level ahead of domestic products.

As a consequence, the share of imported products, which decreased from 31.8% in 2016 to 30.8% in 2017, has steadily increased since then and reached 34.6%, up 0.7% from 2019.

By quarter, it has already surpassed 35% level in 2Q and 4Q of last year.

The overall supply index of pharmaceuticals, which previously exceeded 130 at 131.1 in 1Q last year, fell to 125.8 in 2Q, but rose again to 136.9 in 3Q and remained at 130 level with 134.0 in 4Q.

During the same period, the domestic products’ supply index fell sharply to 121.1 from 127.9 in 1Q but soared to 135.2 in 3Q. However, it fell again to 127.7 in 4Q, falling below the 130-point level.

When the wave of the COVID-19 epidemic is immense, the overall supply index and the supply index of domestic products tend to decrease.

On the other hand, the supply index of imported products started at 138.8 in 1Q and dropped slightly to 137.2 in 2Q, but surpassed 140 at 141.0 in 3Q and surged to 149.1 in 4Q, approaching 150 level.

The increase in the overall supply index of pharmaceuticals recorded in 4Q was 3.7% YoY, and domestic products were 8.5%. 

The share of imported products, which had been falling and rising every quarter, rose again to 35.3% in 4Q and returned to the 35% level.