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S. Korea’s Pharmaceutical Exports Hit Record High

Written: 2016-05-23 10:03:59Updated: 2016-05-23 14:15:27

S. Korea’s Pharmaceutical Exports Hit Record High

Figures unveiled on Monday showed South Korea’s pharmaceutical exports hit record highs last year.

According to the Korea Pharmaceutical Manufacturers Association(KPMA), South Korea’s pharmaceutical exports were worth about two-point-three billion U.S. dollars in 2015, up 28-point-five percent from the year before.

The KPMA asserted South Korea’s support for companies had produced visible results after government officials implemented and developed policies aimed at expanding the country’s pharmaceutical sector.

South Korea’s gross exports fell eight percent, in contrast to the increased exports of pharmaceutical products specifically.

Imports of pharmaceutical products fell one-point-eight percent to about five-point-15 billion dollars. South Korea’s gross imports fell about 16-point-nine percent.

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