Korean healthcare industry’s exports increased significantly in April thanks to the brisk shipments of locally developed quarantine products, a state agency said.
According to data at the Korea Health Industry Development Institute (KHIDI), the health industry’s exports totaled $1.7 billion last month, up 20.2 percent from the same period of last year. Pharmaceuticals made the largest shipment with $640 million, up 23.4 percent, followed by cosmetics’ $570 million, up 0.1 percent, and medical devices’ $490 million, up 50.8 percent.
"Notably, quarantine products such as diagnostic kits have led the growth of exports by the health industry," the agency said. "Following the Covid-19 outbreak, exports for diagnostic reagents and disinfectants showed strong growth owing to surging overseas demand."
The agency noted that shipment growth was most noticeable in medical devices, including diagnostic kits.
The exports of diagnostic reagents increased from $4 million to $146 million, year on year, and disinfectant shipment also soared from $1 million to $44 million.
Brazil and India newly became the top-10 export destinations of Korean healthcare products, and shipments to the existing importers, such as the U.S., Japan, and Germany, continued to expand.
"The local health industry’s exports remained robust despite the prolonged Covid-19 pandemic," an institute official said. "As Korea's quarantine measures have won global recognition, we expect that related products will continue to lead the exports of the health industry."
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