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2022
Exports $7.09BWorld Rnk 2 / 216
Flag Rnk 16 / 1204
2022
Destination $63.1M China
2021 - 2022
FASTEST GROWING MARKET $63.1MUnited States
2022
PRODUCT COMPLEXITY IN Beauty Products0.42Rnk 400 / 1025
2022
Imports $1.3BWorld Rnk 13 / 223
Flag Rnk 81 / 1213
2022
Origin $50.5M France
2021 - 2022
FASTEST GROWING ORIGIN $50.5MSwitzerland
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $7.09B in Beauty Products, making it the 2nd largest exporter of Beauty Products in the world. At the same year, Beauty Products was the 16th most exported product in South Korea. The main destination of Beauty Products exports from South Korea are: China ($3.05B), United States ($747M), Hong Kong ($722M), Japan ($592M), and Vietnam ($294M).

The fastest growing export markets for Beauty Products of South Korea between 2021 and 2022 were United States ($63.1M), Vietnam ($46.7M), and Chinese Taipei ($22.4M).

Imports In 2022, South Korea imported $1.3B in Beauty Products, becoming the 13th largest importer of Beauty Products in the world. At the same year, Beauty Products was the 81st most imported product in South Korea. South Korea imports Beauty Products primarily from: France ($303M), Switzerland ($209M), Singapore ($202M), United States ($179M), and Japan ($113M).

The fastest growing import markets in Beauty Products for South Korea between 2021 and 2022 were Switzerland ($50.5M), Thailand ($5.83M), and Sweden ($2.16M).

COMPANIES In 2023, leading companies such as L'Oreal (73), LG Electronics (27), and Yokohama Industries (2) were at the forefront of shipping Beauty Products from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Beauty Products exports accounted up to $686M and imports accounted up to $80.2M, resulting in a positive trade balance of $605M. Between July 2023 and July 2024 the exports of South Korea's   Beauty Products have increased by $143M (26.4%) from $542M to $686M, while imports increased by $4.51M (5.96%) from $75.7M to $80.2M.

Destinations In July 2024, Beauty Products were exported mostly to China ($140M), United States ($138M), Japan ($61.1M), Hong Kong ($40.3M), and Vietnam ($38.2M), and were imported mostly from France ($30.3M), United States ($14.5M), Japan ($6.51M), Italy ($4.84M), and Canada ($3.78M).

Growth In July 2024, the increase in Beauty Products's year-by-year exports was explained primarily by an increase in exports to Vietnam ($6.16M or 32.7%), Turkey ($2.8M or 180%), and Thailand ($2.58M or 28.4%). In July 2024, the increase in Beauty Products's year-by-year imports was explained primarily by an increase in imports from France ($1.86M or 7.89%), Thailand ($1.62M or 236%), and Germany ($1.53M or 109%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$143M(26.4%)
IMPORT GROWTH (July 2023 - July 2024)$4.51M(5.96%)
MAIN DESTINATION (July 2024)China$140M

This section shows Beauty Products'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 Beauty Products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$7.09B
IMPORTS (2022)$1.3B
NET TRADE (2022)$5.79B

In 2022, South Korea exported $7.09B in Beauty Products. The main destinations of South Korea exports on Beauty Products were China ($3.05B), United States ($747M), Hong Kong ($722M), Japan ($592M), and Vietnam ($294M).

In 2022, South Korea imported $1.3B in Beauty Products, mainly from France ($303M), Switzerland ($209M), Singapore ($202M), United States ($179M), and Japan ($113M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Beauty Products EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$63.1M (9.22%)
Vietnam$46.7M (18.9%)
Chinese Taipei$22.4M (18.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Beauty Products BY South Korea WERE (2021 - 2022):
China-$1.07B (-26%)
Hong Kong-$127M (-15%)
Japan-$22M (-3.58%)
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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 Beauty Products were:
France $10.8B
United States $6.02B
In 2022, South Korea's main importing competitors in Beauty Products were:
China $11.1B
United States $5.77B
Hong Kong $3.78B

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Trade Value of Beauty Products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $41.5M
TOP IMPORT POTENTIALChina+ $44.5M

Beauty Products’s highest export potential is United States. With an export gap of $41.5M.   Beauty Products’s highest import potential is China with an import gap of $44.5M.

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