South Korea has entered the top 10 list of U.S. pharmaceutical import sources for the first time. While exports from other major countries declined, Korea advanced in the rankings on the strength of growing biopharmaceutical exports.

According to data released on August 20 by the KoreaBio Economic Research Center, citing UN trade statistics, the United States—the world’s largest pharmaceutical importer—recorded $94.3 billion in exports and $212.6 billion in imports in 2024, resulting in a $118 billion trade deficit. Imports rose through the first quarter of this year before declining sharply in the second quarter.

U.S. monthly pharmaceutical imports peaked at $31.6 billion in March, then dropped to $20.5 billion in April, $19.0 billion in May, and $15.1 billion in June. Ireland, the largest supplier last year, also saw sharp declines, with imports down from $6.7 billion to $4.5 billion in April year-on-year, and from $2.9 billion to $2.7 billion in June.

Amid this contraction, South Korea stood out. Ranked 16th last year, Korea rose to 12th place in April and May, and entered the top 10 in June. Unlike other major suppliers, Korea maintained stable shipments, with biopharmaceutical exports driving growth.

A KoreaBio official explained, “It was not a surge in exports but the ability to sustain supply while other countries fell behind. Biopharmaceuticals were at the core of this trend.”

In the first half of 2025, Korea’s pharmaceutical exports reached $5.38 billion, up 20.5% year-on-year. Biopharmaceuticals accounted for $3.41 billion, or 63.4% of the total, marking a record half-year with 27.4% growth.

This momentum is reflected in the performance of major firms. Celltrion expanded its North American presence through biosimilars, with U.S. sales reaching $111 million in the first half—a 354% year-on-year increase—driven by products such as Remsima SC (Zymfentra), Truxima, and Herzuma. Samsung Bioepis strengthened its U.S. portfolio with antibody biosimilars, while SK Biopharm’s epilepsy drug Xcopri continued to secure a strong commercial foothold through rising prescriptions and market share.

The KoreaBio official added, “While most major countries cut pharmaceutical exports to the U.S., Korea steadily grew its share despite tariff challenges. Surpassing the U.K., China, and Japan in June to enter the top 10 is a meaningful milestone.”