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Pricing

2022
Exports $934MWorld Rnk 33 / 217
Flag Rnk 107 / 1204
2022
Destination $24.5M Japan
2021 - 2022
FASTEST GROWING MARKET $24.5MVietnam
2022
PRODUCT COMPLEXITY IN Packaged Medicaments0.67Rnk 291 / 1025
2022
Imports $4.88BWorld Rnk 18 / 224
Flag Rnk 15 / 1213
2022
Origin $530M United States
2021 - 2022
FASTEST GROWING ORIGIN $530MItaly
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

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 Samsung (4) and General Motors (1) were at the forefront of shipping Packaged Medicaments from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Packaged Medicaments exports accounted up to $75.2M and imports accounted up to $408M, resulting in a negative trade balance of $333M. Between October 2023 and October 2024 the exports of South Korea's   Packaged Medicaments have increased by $9.5M (14.5%) from $65.7M to $75.2M, while imports increased by $28.1M (7.38%) from $380M to $408M.

Destinations In October 2024, Packaged Medicaments were exported mostly to Vietnam ($13.9M), Japan ($9.22M), Thailand ($5.2M), Philippines ($4.59M), and China ($4.44M), and were imported mostly from Germany ($93.7M), United States ($59.1M), Ireland ($45.5M), France ($31.1M), and Puerto Rico ($21.8M).

Growth In October 2024, the increase in Packaged Medicaments's year-by-year exports was explained primarily by an increase in exports to Mexico ($1.6M or 467%), United Kingdom ($927k or 813%), and Philippines ($797k or 28%). In October 2024, the increase in Packaged Medicaments's year-by-year imports was explained primarily by an increase in imports from United States ($109M or 175%), Ireland ($13.3M or 54.3%), and Netherlands ($8.83M or 467%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$9.5M(14.5%)
IMPORT GROWTH (October 2023 - October 2024)$28.1M(7.38%)
MAIN DESTINATION (October 2024)Vietnam$13.9M

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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Historical Data

Trade Balance

Color
EXPORTS (2022)$934M
IMPORTS (2022)$4.88B
NET TRADE (2022)-$3.95B

In 2022, South Korea exported $934M in Packaged Medicaments. The main destinations of South Korea exports on Packaged Medicaments were Japan ($148M), Vietnam ($125M), China ($63.6M), Thailand ($44.9M), and Philippines ($41.7M).

In 2022, South Korea imported $4.88B in Packaged Medicaments, mainly from United States ($976M), Germany ($790M), Italy ($681M), Switzerland ($420M), and Ireland ($316M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Packaged Medicaments EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Vietnam$24.5M (24.3%)
Poland$19.4M (1.89k%)
United Arab Emirates$11.9M (99.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packaged Medicaments BY South Korea WERE (2021 - 2022):
China-$38.5M (-37.7%)
Brazil-$17M (-38.1%)
Austria-$9.36M (-99.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Packaged Medicaments were:
Germany $74.8B
Switzerland $45.4B
United States $38.2B
In 2022, South Korea's main importing competitors in Packaged Medicaments were:
United States $91.3B
Switzerland $32.9B
Germany $32B

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Trade Value of Packaged Medicaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $87.3M
TOP IMPORT POTENTIALGermany+ $192M

Packaged Medicaments’s highest export potential is China. With an export gap of $87.3M.   Packaged Medicaments’s highest import potential is Germany with an import gap of $192M.

See methodology.

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