Exports of cosmetic products hit record high in Q1
People shop at the cosmetics section of a department store in Seoul, Jan. 30, 2023. Newsis
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 $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 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.
Korean cosmetics were sold to 175 nations during the cited period, the data showed. (Yonhap)