Korea’s exports of pharmaceutical products to the U.S. slightly went down in the first nine months of the year, while those shipped to China grew rapidly, government data showed. The total exports of pharmaceutical products expanded.

Pharmaceutical products under the HS Code 30 include medicines (anticancer drugs, aspirin agents, and vitamins), cotton/gauze/bandages, reagents/contrast agents/emergency kits, skin/bones, human blood, animal blood for treatment/prevention/diagnosis of a disease, and immune serum (hemoglobin, human and veterinary vaccines).

According to data from the Korea Customs Service, exports of pharmaceutical goods jumped to $2.46 billion during the three quarters, up 29.7 percent from a year earlier. Imports also climbed 17.2 percent to $4.78 billion. The trade deficit of pharmaceutical goods recorded $2.32 billion over the cited period.

Exports of medicines under the HS Code 3003 and 3004 went up 2.6 percent to $620 million between January and September year-on-year. Imports rose 12.4 percent to $2.93 billion, leading the trade deficit to reach $2.32 billion.

Korea’s exports of medicines to the U.S., the world’s largest pharmaceutical market, dropped 3 percent year-on-year to post $240 million over the three quarters.

However, drug exports to China surged 22 percent to hit $170 million during the same period.

In the trade with the U.S., exports of medicines under the HS Code 3003 and 3004 increased 2.2 percent to $27 million, and imports expanded 14.9 percent to $460 million. The trade deficit stood at $400 million.

With China, Korea posted a trade surplus in medicines. Exports of drugs to China grew 17.3 percent to $69 million and imports, 21.9 percent to $55 million. The trade surplus was $14 million.