Korea’s healthcare exports surpass USD10 bn

 30-Jun-17, Business Korea 

As annual exports of Korean healthcare and cosmetics goods surpassed the USD10 billion (KRW11.5 tn) mark for the first time in 2016, the balance of trade has turned into a surplus. 

Image: Business Korea

Exports of medical equipment grew 7.7 percent to USD2.9 bn. The US was the biggest buyer with USD500 mn, followed by China (USD440 mn) and Germany (USD250 mn). Exports to the UAE and China increased 52 percent and 34 percent, while exports to Vietnam rose 31 percent.

Ultrasound diagnostic equipment ranked top at USD520 mn, followed by dental implants and soft contact lenses. Notably, exports of tissue restorative bio-materials grew as much as 74 percent.

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