Monday, May 20, 2024

Marketing

July cosmetics exports $649 million... 5.8% increase over the same period last year

Failed to maintain $700 million from May to June… This year, the cumulative amount was $4.73 billion, a slight increase of 1.3%.

 

Korea's cosmetics exports in July recorded $649 million, up 5.8% from the same period last year. However, it failed to maintain the $700 million mark, which was $769 million in May and $746 million in June, a decrease of $97 million or 13.0% from the previous June. .

 

According to the 'Export and Import Trends in July' announced by the Ministry of Trade, Industry and Energy (Minister Lee Chang-yang, www.motie.go.kr ) today (1st), Korea's cosmetics exports during this period were 467 million compared to last January. The dollar fell to $649 million, the third lowest this year after $646 million in February.

 

Along with this, it failed to maintain the level of $700 million in March ($774 million) and three times in May and June, and entered a downward trend again.

 

As a result, the cumulative performance of cosmetics for the seven months from this year to last month recorded a total of 4.73 billion dollars, an increase of 59 million dollars in value and 1.3% growth rate compared to 4.67 billion dollars in the same period last year. maintained a slight increase.

 

The cosmetics industry analyzed that “there is not much change from the sluggish export situation that usually occurs in July and August,” and “despite the ever-decreasing performance of exports to China, it has been only 1.3% so far this year, but continues to grow slightly. Looking at the situation, it is clear that efforts to diversify exporting countries are bearing fruit.”

 

In particular, in the cumulative export performance up to the first half of last year, △ China -24.6% △ Japan -3.4%, etc. decreased, but △ USA 20.5% (2nd) △ Hong Kong 21.1% (4th) △ Vietnam 37.8% (5th) ) △ Russian Federation 31.9% (6th) △ Thailand 30.3% (8th).

 

In particular, in the case of countries ranked from 11th to 20th, △ Ukraine (16th, 119.5%) △ Kazakhstan (14th, 81.4%) △ Kyrgyzstan (12th, 76.7%) △ Australia (20th, 26.3%) △ United Arab Emirates (18th, 25.8%) △ France (13th, 17.4%) △ Philippines (19th, 14.5%) △ UK (11th, 13.8%) △ Indonesia (15th, 13.1%) 9 countries showed a double-digit growth rate, and Canada (17th, 7.9%) was the only one to record a single-digit growth rate (based on the statistics on cosmetics export performance by country in the first half of 2023 by the Korea Cosmetics Association).