Exports of cosmetics from South Korea to Russia increased by 20% in eight months

In the first eight months of the year, South Korea increased exports of cosmetics and skin care products to Russia by more than 20% compared to the same period last year.

The main growth came from the “other products” category for makeup and skin care, exports of which increased by 24.5%.

With the increase in the cost of supplies, their physical volume decreased by 6.2%.

SEOUL, September 15 – RIA Novosti. In the first eight months of the year, South Korea increased exports of cosmetics and skin care products to Russia by more than 20% compared to the same period last year, according to data from the customs service of the Republic of Korea, which was reviewed by RIA Novosti.

According to department statistics, in January-August, South Korea exported HS 3304 category products to Russia - cosmetics and makeup and skin care products, including sunscreens, as well as manicure and pedicure products - worth $287.7 million.

During the same period last year, the volume of such supplies amounted to $239.2 million. Thus, in value terms, exports increased by 20.3%, or approximately $48.5 million.

The main growth occurred in the largest subitem, which combines “other products” for makeup and skin care. They include various serums, lotions, skin serums and other popular South Korean products. Their exports to Russia increased from 222.6 million dollars in January-August last year to almost 277 million for the same period of this year - by 24.5%.

At the same time, exports of a number of individual categories of decorative cosmetics decreased. Shipments of lip makeup products decreased by 15.2%, to $6.9 million, and eye cosmetics - by 60.8%, to $2.5 million. Exports of powder decreased by 40%, to 967 thousand dollars, and products for manicure and pedicure - by 21.6%, to 367 thousand.

As the cost of supplies increased, their physical volume, on the contrary, decreased. In January-August of this year, South Korea exported about 8.55 thousand tons of products of the HS 3304 category to Russia compared to 9.11 thousand tons a year earlier - 6.2% less.

Separately, exports of cosmetics and skincare products from South Korea to Russia rose to $33.2 million in August this year from $30.5 million in August last year, an increase of about 9%.