The average annual growth rate of Korean cosmetics over the past decade was 27.0%, and exports have grown 8.6 times from $1.067 billion in 2012 to $9.1835.7 billion in 2021.
The average annual growth rate of 27.0% of cosmetics exports is 15 times higher than the general export growth rate of 1.8%, proving the possibility of the cosmetic industry becoming a new growth engine for the country.
Since turning into a surplus in 2012, the cosmetics trade balance has maintained a surplus for 10 consecutive years and has grown into an export-friendly industry.
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