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2022
Exports $8.17BWorld Rnk 5 / 226
Flag Rnk 13 / 96
2022
Destination $57.6M China
2021 - 2022
FASTEST GROWING MARKET $57.6MVietnam
2022
PRODUCT COMPLEXITY IN Perfumery & cosmetics0.49Rnk 370 / 1025
2022
Imports $2.39BWorld Rnk 19 / 225
Flag Rnk 33 / 96
2022
Origin $54.1M France
2021 - 2022
FASTEST GROWING ORIGIN $54.1MSwitzerland
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

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 L'Oreal (73), LG Electronics (36), and Costco Wholesale (3) were at the forefront of shipping Perfumery & cosmetics from South Korea to the United States.

Latest Trends

August 2024

About

Overview In August 2024 South Korea's Perfumery & cosmetics exports accounted up to $817M and imports accounted up to $178M, resulting in a positive trade balance of $639M. Between August 2023 and August 2024 the exports of South Korea's   Perfumery & cosmetics have increased by $137M (20.2%) from $679M to $817M, while imports decreased by $-4.53M (-2.48%) from $183M to $178M.

Destinations In August 2024, Perfumery & cosmetics were exported mostly to United States ($188M), China ($150M), Japan ($90.9M), Hong Kong ($38.2M), and Vietnam ($36.4M), and were imported mostly from France ($42.8M), United States ($29.5M), China ($14M), Thailand ($13.6M), and Japan ($13.2M).

Growth In August 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 ($2.05M or 18.1%). In August 2024, the decrease in Perfumery & cosmetics's year-by-year imports was explained primarily by a decrease in imports from United States ($-5.31M or -16.9%), Japan ($-4.13M or -25.3%), and Australia ($-2.32M or -48.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$137M(20.2%)
IMPORT GROWTH (August 2023 - August 2024)$-4.53M(-2.48%)
MAIN DESTINATION (August 2024)United States$188M

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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Historical Data

Trade Balance

Color
EXPORTS (2022)$8.17B
IMPORTS (2022)$2.39B
NET TRADE (2022)$5.78B

In 2022, South Korea exported $8.17B in Perfumery & cosmetics. The main destinations of South Korea exports on Perfumery & cosmetics were China ($3.45B), United States ($869M), Hong Kong ($774M), Japan ($716M), and Vietnam ($339M).

In 2022, South Korea imported $2.39B in Perfumery & cosmetics, mainly from France ($490M), United States ($368M), Singapore ($299M), Japan ($221M), and Switzerland ($221M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Perfumery & cosmetics EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Vietnam$57.6M (20.5%)
United States$44.8M (5.44%)
Chinese Taipei$30.4M (18.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Perfumery & cosmetics BY South Korea WERE (2021 - 2022):
China-$911M (-20.9%)
Hong Kong-$154M (-16.6%)
Japan-$32M (-4.28%)
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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 Perfumery & cosmetics were:
France $23.4B
United States $14B
Germany $11.5B
In 2022, South Korea's main importing competitors in Perfumery & cosmetics were:
United States $17.8B
China $14B
Germany $8.42B

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Trade Value of Perfumery & cosmetics by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $61.2M
TOP IMPORT POTENTIALChina+ $92.4M

Perfumery & cosmetics’s highest export potential is United States. With an export gap of $61.2M.   Perfumery & cosmetics’s highest import potential is China with an import gap of $92.4M.

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