Perfumery & cosmetics in South Korea 2021 Exports | Imports : $8.92B | $2.35B, World Rnk 5 / 221 Rnk 12 / 96 | World Rnk 18 / 225 Rnk 35 / 96
2020 - 2021 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $1.05B | $150M, China | Switzerland
2021 ECONOMIC COMPLEXITY of South Korea: 1.82, Rnk 4 / 131
2021 PRODUCT COMPLEXITY IN Perfumery & cosmetics: 0.33, Rnk 434 / 1029
Exports In 2021, South Korea exported $8.92B in Perfumery & cosmetics, making it the 5th largest exporter of Perfumery & cosmetics in the world. At the same year, Perfumery & cosmetics was the 12th most exported product in South Korea. The main destination of Perfumery & cosmetics exports from South Korea are: China ($4.37B), Hong Kong ($903M), United States ($824M), Japan ($751M), and Russia ($285M).
The fastest growing export markets for Perfumery & cosmetics of South Korea between 2020 and 2021 were China ($1.05B), United States ($204M), and Japan ($130M).
Imports In 2021, South Korea imported $2.35B in Perfumery & cosmetics, becoming the 18th largest importer of Perfumery & cosmetics in the world. At the same year, Perfumery & cosmetics was the 35th most imported product in South Korea. South Korea imports Perfumery & cosmetics primarily from: France ($480M), United States ($383M), Singapore ($323M), Japan ($235M), and Switzerland ($168M).
The fastest growing import markets in Perfumery & cosmetics for South Korea between 2020 and 2021 were Switzerland ($150M), France ($88.4M), and Singapore ($39.3M).
Tariffs In 2018, the average tariff for South Korea in Perfumery & cosmetics was 64.7%. The countries with the highest import tariffs for Perfumery & cosmetics were Canada (Most Favoured Nation duty rate treatment, 754%), Colombia (Most Favoured Nation duty rate treatment, 754%), Vietnam (Association of Southeast Asian Nations (ASEAN ) Free Trade Area, 603%), China (Most Favoured Nation duty rate treatment, 265%), and Switzerland (Most Favoured Nation duty rate treatment, 265%).
February 2023
Overview In February 2023 South Korea's Perfumery & cosmetics exports accounted up to $638M and imports accounted up to $176M, resulting in a positive trade balance of $462M. Between February 2022 and February 2023 the exports of South Korea's Perfumery & cosmetics have increased by $73M (12.9%) from $565M to $638M, while imports increased by $8.63M (5.17%) from $167M to $176M.
Destinations In February 2023, Perfumery & cosmetics were exported mostly to China ($212M), United States ($77.4M), Japan ($67M), Vietnam ($43.5M), and Hong Kong ($40.6M), and were imported mostly from France ($46M), United States ($34.1M), Japan ($19.5M), Thailand ($10.8M), and China ($10.6M).
Growth In February 2023, the increase in Perfumery & cosmetics's year-by-year exports was explained primarily by an increase in exports to United States ($16.3M or 27.4%), Russia ($5.77M or 28.6%), and Ukraine ($4.2M or 137%). In February 2023, the increase in Perfumery & cosmetics's year-by-year imports was explained primarily by an increase in imports from China ($4.13M or 42%), France ($3.77M or 10.1%), and Australia ($2.39M or 100%).
EXPORT GROWTH (February 2022 - February 2023): $73M, (12.9%)
IMPORT GROWTH (February 2022 - February 2023): $8.63M, (5.17%)
MAIN DESTINATION (February 2023): China, $212M
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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EXPORTS (2021): $8.92B
IMPORTS (2021): $2.35B
NET TRADE (2021): $6.57B
In 2021, South Korea exported $8.92B in Perfumery & cosmetics. The main destinations of South Korea exports on Perfumery & cosmetics were China ($4.37B), Hong Kong ($903M), United States ($824M), Japan ($751M), and Russia ($285M).
In 2021, South Korea imported $2.35B in Perfumery & cosmetics, mainly from France ($480M), United States ($383M), Singapore ($323M), Japan ($235M), and Switzerland ($168M).
THE FASTEST GROWING Perfumery & cosmetics EXPORT MARKETS FOR South Korea WERE (2020 - 2021):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Perfumery & cosmetics BY South Korea WERE (2020 - 2021):
In 2021, South Korea's main exporting competitors in Perfumery & cosmetics were:
In 2021, South Korea's main importing competitors in Perfumery & cosmetics were:
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