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Exports of S. Korean cosmetics more than triple over 5 yrs

All News 10:22 April 05, 2016

SEJONG, April 5 (Yonhap) -- Exports of South Korea-made cosmetics more than tripled over the past five years as the Korean Wave, or Hallyu, fueled robust demand from China and other Asian countries, customs data showed Tuesday.

Outbound shipments of makeup products reached US$2.45 billion in 2015, surging 53.1 percent from $1.56 billion a year earlier, according to the data by Korea Customs Service (KCS).

The 2015 figure soared more than threefold from $698 million in 2011, with an annual average growth of 36.9 percent over the 2011-2015 period.

The total volume of cosmetics exports stood at 90,491 tons in 2015, compared to 31,606 tons tallied in 2011.

For the first three months of 2016, exports of cosmetic products jumped 21.9 percent on-year to $710 million.

"Korean-made cosmetics appeal to overseas consumers on the back of the rising popularity of South Korean movies, pop and TV series," said the KCS.

China is the biggest buyer of South Korean beauty products, importing $999.5 million last year, accounting for 40.6 percent of the country's entire cosmetics exports.

Hong Kong came in second, buying $606.4 million worth of South Korea cosmetics, followed by the United States with $207.3 million and Japan with $113.7 million.


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