Cosmetics Exports Record 10 Trillion for 2 Consecutive Years Diversified Export Markets, Southeast Asia, Central Asia

- MFDS announces statistics data of cosmetics production·import·export for 2022

- Trade balance records 8 trillion 600 billion won ($6.6 billion) in 2022

- Korea ranks the world’s 4th cosmetics exporter following France, the United States, Germany

- Exports to China decline…MFDS accelerates regulatory innovation, supporting exports

The Ministry of Food and Drug Safety (Minister Oh Yu-Kyoung) announced the result of analyzing production, imports, and exports of cosmetics for 2022. According to the analysis, trade balance recorded 8 trillion 563.1 billion won ($6.6 billion) in a surplus as of 2022 as export dependence on China decreased while exports to Southeast Asian countries increased.

* Trade balance: ￦100.6 billion ($89.26 million) (2012) → ￦4 trillion 260.1 billion ($3.8 billion) (2017)→ ￦9 trillion 16.1 billion ($7.9 billion) (2021) → ￦8 trillion 563.1 billion ($6.6 billion) (2022)