Perfumery & cosmetics in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $8.17B in Perfumery & cosmetics, making it the 5th largest exporter of Perfumery & cosmetics in the world. At the same year, Perfumery & cosmetics was the 13th most exported product in South Korea. The main destination of Perfumery & cosmetics exports from South Korea are: China ($3.45B), United States ($869M), Hong Kong ($774M), Japan ($716M), and Vietnam ($339M).

The fastest growing export markets for Perfumery & cosmetics of South Korea between 2021 and 2022 were Vietnam ($57.6M), United States ($44.8M), and Chinese Taipei ($30.4M).

Imports In 2022, South Korea imported $2.39B in Perfumery & cosmetics, becoming the 19th largest importer of Perfumery & cosmetics in the world. At the same year, Perfumery & cosmetics was the 33rd most imported product in South Korea. South Korea imports Perfumery & cosmetics primarily from: France ($490M), United States ($368M), Singapore ($299M), Japan ($221M), and Switzerland ($221M).

The fastest growing import markets in Perfumery & cosmetics for South Korea between 2021 and 2022 were Switzerland ($54.1M), China ($10.4M), and France ($10.2M).

COMPANIES In 2023, leading companies such as LOREAL USA (76), LG ELECTRONICS USA (36), and COSTCO WHOLESALE COPRORATION (3) were at the forefront of shipping Perfumery & cosmetics from South Korea to the United States.

Latest Trends

March 2024

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Overview In March 2024 South Korea's Perfumery & cosmetics exports accounted up to $752M and imports accounted up to $174M, resulting in a positive trade balance of $579M. Between March 2023 and March 2024 the exports of South Korea's Perfumery & cosmetics have decreased by $-11.4M (-1.49%) from $764M to $752M, while imports decreased by $-22.7M (-11.6%) from $196M to $174M.

Destinations In March 2024, Perfumery & cosmetics were exported mostly to China ($182M), United States ($127M), Japan ($84.5M), Vietnam ($47.4M), and Hong Kong ($42.6M), and were imported mostly from France ($46M), United States ($30.2M), Japan ($16.4M), China ($14.2M), and Thailand ($9.49M).

Growth In March 2024, the decrease in Perfumery & cosmetics's year-by-year exports was explained primarily by a decrease in exports to China ($-94.7M or -41.5%), United States ($-11.2M or -14.8%), and Japan ($-4.94M or -8.29%). In March 2024, the decrease in Perfumery & cosmetics's year-by-year imports was explained primarily by a decrease in imports from United States ($-5.31M or -16.9%), Japan ($-4.13M or -25.3%), and Australia ($-2.32M or -48.5%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-11.4M(-1.49%)

IMPORT GROWTH (March 2023 - March 2024)$-22.7M(-11.6%)

MAIN DESTINATION (March 2024)China$182M

This section shows Perfumery & cosmetics'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 Perfumery & cosmetics over time.

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