South Korea has a cosmetics trade surplus of nearly 40 billion yuan in 2020, and more than half of i-Health & Beauty-Hmeonline: Leading B2B Source & Platform Since 2005

South Korea has a cosmetics trade surplus of nearly 40 billion yuan in 2020, and more than half of i

2021-07-02

Yonhap News Agency reported on June 21 that South Korea’s cosmetics trade balance achieved a surplus for 9 consecutive years. Last year, the surplus reached 7.0092 trillion won (approximately 39.9 billion yuan), and its export volume ranked third in the world.

According to the report, according to data from the Korea Food and Drug Safety Agency on the 21st, since Korea achieved a cosmetics trade surplus in 2012 for the first time, the surplus has increased year by year from 100.6 billion won to 6.1503 trillion won in 2019, and will exceed 7 trillion won in 2020.

According to reports, Korean cosmetics exports in 2020 will be 8.2877 trillion won, a year-on-year increase of 16.1%. The export value ranking rose to third in the world, second only to France and the United States. Among them, exports to China were US$3.8071.4 billion, accounting for 50.3% of the total. In terms of export categories, Korean cosmetics exports far exceed home appliances (US$7 billion), mobile phones (US$4.1 billion), and pharmaceuticals (US$7.2 billion).

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