Packaged Medicaments in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $934M in Packaged Medicaments, making it the 33rd largest exporter of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 107th most exported product in South Korea. The main destination of Packaged Medicaments exports from South Korea are: Japan ($148M), Vietnam ($125M), China ($63.6M), Thailand ($44.9M), and Philippines ($41.7M).

The fastest growing export markets for Packaged Medicaments of South Korea between 2021 and 2022 were Vietnam ($24.5M), Poland ($19.4M), and United Arab Emirates ($11.9M).

Imports In 2022, South Korea imported $4.88B in Packaged Medicaments, becoming the 18th largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 15th most imported product in South Korea. South Korea imports Packaged Medicaments primarily from: United States ($976M), Germany ($790M), Italy ($681M), Switzerland ($420M), and Ireland ($316M).

The fastest growing import markets in Packaged Medicaments for South Korea between 2021 and 2022 were Italy ($530M), United States ($178M), and Switzerland ($81.9M).

COMPANIES In 2023, leading companies such as were at the forefront of shipping Packaged Medicaments from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Packaged Medicaments exports accounted up to $60.8M and imports accounted up to $382M, resulting in a negative trade balance of $321M. Between February 2023 and February 2024 the exports of South Korea's Packaged Medicaments have decreased by $-2.01M (-3.2%) from $62.8M to $60.8M, while imports decreased by $-128M (-25.1%) from $510M to $382M.

Destinations In February 2024, Packaged Medicaments were exported mostly to Vietnam ($12.5M), Japan ($8.36M), Thailand ($4.37M), Philippines ($4.12M), and Brazil ($3.35M), and were imported mostly from Germany ($79.9M), United States ($47.8M), France ($33M), Ireland ($29.4M), and United Kingdom ($26.2M).

Growth In February 2024, the decrease in Packaged Medicaments's year-by-year exports was explained primarily by a decrease in exports to Japan ($-3.55M or -21.9%), Vietnam ($-2.3M or -38.9%), and Canada ($-1.34M or -99.7%). In February 2024, the decrease in Packaged Medicaments's year-by-year imports was explained primarily by a decrease in imports from Puerto Rico ($-45.3M or -72%), Switzerland ($-11.4M or -33.8%), and Italy ($-10.9M or -32.1%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-2.01M(-3.2%)

IMPORT GROWTH (February 2023 - February 2024)$-128M(-25.1%)

MAIN DESTINATION (February 2024)Vietnam$12.5M

This section shows Packaged Medicaments's exports and imports data at subnational level for South Korea. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Packaged Medicaments over time.

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