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 COSTCO WHOLESALE COPRORATION (174), SIGMA CORPORATION (52), and DOLLARAMA L.P. (7) were at the forefront of shipping Perfumery & cosmetics from South Korea to the United States.

Latest Trends

February 2024

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Overview In February 2024 South Korea's Perfumery & cosmetics exports accounted up to $700M and imports accounted up to $155M, resulting in a positive trade balance of $545M. Between February 2023 and February 2024 the exports of South Korea's Perfumery & cosmetics have increased by $67.1M (10.6%) from $633M to $700M, while imports decreased by $-20.8M (-11.8%) from $176M to $155M.

Destinations In February 2024, Perfumery & cosmetics were exported mostly to China ($167M), United States ($119M), Japan ($82.9M), Vietnam ($44.2M), and Hong Kong ($36.9M), and were imported mostly from France ($40.3M), United States ($27.8M), Japan ($15.4M), Thailand ($11M), and China ($9.22M).

Growth In February 2024, the increase in Perfumery & cosmetics's year-by-year exports was explained primarily by an increase in exports to Vietnam ($5.71M or 26.1%), Turkey ($2.86M or 156%), and Thailand ($2.05M or 18.1%). In February 2024, the decrease in Perfumery & cosmetics's year-by-year imports was explained primarily by a decrease in imports from United States ($-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 (February 2023 - February 2024)$67.1M(10.6%)

IMPORT GROWTH (February 2023 - February 2024)$-20.8M(-11.8%)

MAIN DESTINATION (February 2024)China$167M

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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