[Graphic News] Exports of cosmetic products hit record high in Q1

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, amid the growing popularity of Korean culture, data showed.

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 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 US came next with the export value coming to $380 million, followed by Japan and Vietnam. (Yonhap)