Exports of cosmetic products hit record high in Q1

SEOUL, April 3 (Yonhap) -- South Korea's exports of cosmetic goods rose more than 20 percent on-year to reach an all-time high in the first quarter of 2024 on the growing popularity of Korean culture, data showed Wednesday.

Outbound shipments of cosmetics totaled US$2.3 billion during the January-March period, up 21.7 percent from a year earlier, according to the data by the Korea Customs Service.

It marked the highest level ever for any first-quarter figure.

Overseas sales of South Korean cosmetic goods reached a yearly high in 2021 with $9.22 billion but fell to $7.98 billion in 2022 amid sluggish demand from China and the COVID-19 pandemic before recovering to $8.49 billion last year.

China was the No. 1 destination in the first quarter with exports coming to $610 million.

The United States came next with the export value coming to $380 million, followed by Japan with $240 million and Vietnam with $150 million.

South Korean cosmetics were sold to 175 nations during the cited period, the data showed.

graceoh@yna.co.kr
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