Korea's bio-health exports up 22.5% in Q3
Consumers purchase cosmetics at a shop in central Seoul, Nov. 18. Yonhap
Korea's exports of bio-health products jumped 22.5 percent in the third quarter from a year earlier, data showed Friday, driven by growing demand for pharmaceutical goods in European nations.
Outbound shipments of bio-health products, including pharmaceutical goods and cosmetics, amounted to $6.34 billion in the July-September period, compared with $5.17 billion recorded over the same period in 2023, according to the Korea Health Industry Development Institute.
By sector, exports of pharmaceutical products jumped 43.5 percent on-year to $2.38 billion, led by increased shipments to Hungary, Germany and Belgium.
Outbound shipments of cosmetics products also advanced 19.2 percent to $2.58 billion, due to higher consumption of basic skincare products in the United States and Japan.
Exports of medical instruments rose 1.8 percent on-year to $1.37 billion, bolstered by laser equipment, the data showed.
Over the January-September period, South Korea's bio-health exports reached $18.5 billion, up 15.6 percent from the previous year.
"In the fourth quarter, exports of bio-health goods will continue to rise, supported by continued growth in demand for pharmaceuticals and basic cosmetics," an official from the institute said. (Yonhap)