Cosmetics Exports Rise, Imports Down
09 February, 2021
Exports of cosmetics increased last year regardless of the coronavirus pandemic.
The Korea Customs Support said on Sunday that cosmetics exports rose 16.1 percent on-year to almost US$7.6 billion. The progress was apparently because of the continued popularity of Korean pop way of life.
Sales of skin care, hair and bath products rose, but declined for color make-up goods like blush and lipstick.
By destination, exports to China increased 24.5 percent to $3.81 billion, accounting for 50.3 percent of the full total. Shipments to the U.S. and Japan soared 21.6 percent and 59.2 percent, respectively.
While exports increased, imports declined a lot more than 6 percent to $1.48 billion. It had been the second total annual decline in a row.
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