[약업신문]Biohealth exports in February for 18 consecutive months↑… “Excellent export of diagnostic kits”

[약업신문]Biohealth exports in February for 18 consecutive months↑… “Excellent export of diagnostic kits”

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Ministry of Industry’s February import and export trends… The largest increase in 46 months due to EU exports, biohealth and ships

Exports in the biohealth sector have increased for 18 consecutive months. In particular, the export of diagnostic kits continues to grow rapidly.

The Ministry of Trade, Industry and Energy announced in February 2021 that the number of export target countries continued to increase as biohealth exports, including diagnostic kit exports, continued to grow rapidly through import and export trends.

According to the Ministry of Industry, total exports of all industries in February amounted to $44.8 billion, an increase of 9.5% year-on-year. Despite the lack of three working days in February, total exports increased for the fourth consecutive month, resulting in an average daily export increase of 26.4% to $2.3 billion.

Among them, biohealth products recorded 18 months, the longest continuous growth period among the 15 major items. This was followed by △8 months for semiconductors and home appliances △6 months for secondary batteries △5 months for displays △4 months for ships, wireless communication devices, and car parts △2 months for automobiles, petrochemicals, and steel.

The Ministry of Industry analyzed that although there is a concern about a drop in unit prices due to the global drug price reduction policy for biohealth and intensifying competition among biosimilars, EU exports have risen sharply due to continued demand for Korean-made Corona 19 diagnostic kits in each country.

Biohealth’s export growth rate in February increased by 62.5% and an average daily increase of 87.6%, showing a remarkable rapid growth trend.

In particular, BioHealth was evaluated as showing a rapid growth trend, with the annual average export increase of more than two digits last month, following the record of a record high in annual exports last year along with six promising items such as system semiconductors and electric vehicles.

In addition, biohealth was analyzed as an item with strong exports to the EU. The top export countries were Germany, 2nd place, India 3rd place, Netherlands, 4th place Italy, and 5th place Indonesia.

Pharmaceutical exports in February also recorded 742 million dollars, up 91.5% year-on-year. This is a 12.2% increase from the previous month.

An official from the Ministry of Industry said, “In February, the number of days of operation increased even under difficult conditions, where the number of working days was insufficient for three days compared to the previous year.” “The rise of new growth items including biohealth continued.”

Industry Minister Sung Yun-mo said, “In March, we will hold the 4th expansion trade strategy coordination meeting with relevant ministries to prepare export measures for Korea’s exports and a leap forward in the economy with a positive export transition this year.”

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