In March, the export value of cosmetics was $61649 million

Despite the spread of the New Coronary Pneumonia epidemic, the export of cosmetics increased significantly in March, and the monthly export volume hit a record high.

According to a recent report released by Park Eunjeong, a researcher at Liu An Securities, the provisional value of cosmetics exports announced by the Korea Trade Statistics Promotion Agency in February was US $ 61649 million, an increase of 30% year-on-year, setting a record high.

The number of business days in March this year was 2 days longer than last year. Even considering the same number of business days, it increased by 18% compared with the same period last year.

Exports to China increased by 40% year-on-year, occupying a dominant position in exports, and exports to Japan also increased by 62%, driving the upward trend. Exports to Southeast Asia have increased by 12%. Since the beginning of the year, exports to Hong Kong have shown a downward trend, but they have increased by 15% year-on-year.

Judging from the proportion of exports by region, China accounts for 51%, Hong Kong, China accounts for 15%, the United States accounts for 6%, and Japan accounts for 8%. In 2019, China accounts for 46%, Hong Kong accounts for 15%, the United States accounts for 8%, and Japan accounts for 6%.

In March, the export of cosmetics to China was US $ 31276 million, a year-on-year increase of 49% and a month-on-month increase of 63%. If you consider the same number of business days, it will increase by 35% compared with the same period last year.

From the perspective of category, the trend of skin care is still continuing. Skin care products increased by 64% year-on-year, color makeup increased by 33%, and other categories increased by 28%.

The proportion of skin care products in exports to China expanded from 57% in 2019 to 61% in March 2020, while the proportion of color cosmetics decreased slightly from 8.7% last month to 8.0%.

In March, exports to Hong Kong were US $ 9456 billion, an increase of 15% year-on-year and an increase of 112% month-on-month. If considering the same number of business days, it increased by 5% compared with the same period last year.

In terms of categories, exports of skin care products increased by 68% year-on-year, makeup dropped by 32%, and other categories fell by 60%, showing a downturn.

Exports from regions other than mainland China and Hong Kong amounted to US $ 20915 million in March, an increase of 15% year-on-year and 13% month-on-month. Taking into account the number of business days, this number increased by 4% year-on-year.

Since the second half of last year, the export trend to Japan has been good. In particular, in 2019, skin care products exported an average of 10 billion won per month, but the export scale from January to February this year expanded to 12 billion won, compared with 20 billion won in March, which continues to show an upward trend.

Exports to Japan were 48.92 million U.S. dollars, an increase of 62% year-on-year and an increase of 47% month-on-month. Exports of skin care products and color cosmetics grew 56% and 83% year-on-year, respectively.

Exports to the US reached 374.3 billion U.S. dollars, a year-on-year decrease of 0.2% and a chain increase of 34%. The seven major Southeast Asian countries exported US $ 70 million, up 12% year-on-year and down 1% month-on-month.

Park Eunjeong researcher said: "In March, cosmetics exports to China increased sharply, setting a record in history. In February, China's new coronary pneumonia epidemic reached its peak. In March, consumption continued to resume the trend of e-commerce.

"China is gradually stabilizing. In April, the National People's Congress will propose economic stimulus policies, etc. Expectations for stimulating consumption will continue. It is expected that China's demand will gradually recover with e-commerce as the center. A rebound is expected. "