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Healthcare Industry’s Exports Grow 22.5% in Q1 amid COVID-19 Crisis

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Healthcare exports from South Korea increased 22.5 percent in the first quarter of 2020 during the COVID-19 crisis.

The Korea Health Industry Development Institute, said that Korea’s exports of pharmaceuticals, medical devices, and cosmetics totaled US$4.4 billion in the first quarter of 2020.

Medicine exports reached US$1.7 billion, recording the highest growth rate of 45.0 percent. Cosmetics exports totaled US$1.8 billion, up 16.3 percent from a year ago, while medical devices were worth US$900 million, an increase of 4.4 percent.

Germany received the highest number of imports, came in first with US$300 million, followed by the United States with US$210 million and Turkey with US$200 million.