Record-breaking figures for Korea’s cosmetics trade

South Korea’s cosmetics exports have reached unprecedented levels during the first half of the year, growing up 38.7% compared to 2009. Exports have reached USD 236.17 million on the first semester and could exceed USD 400 at the end of the year.

Korean cosmetics manufacturers have sold their products to 119 countries, mainly in Asia, which absorbs about 83% of the country’s exports, with China (27.7%), Japan (11.8%), Hong Kong and Taiwan being the main clients, followed by the U.S.A.

However, Korea’s imports have surged too, and the country’s trade deficit in the cosmetic sector reached USD 140 million, growing by 26% compared to the same period last year. The deficit is expected to reached about USD 300 million by the end of the year.