Korea's cosmetics exports to the Islamic region increased by 17.1% year-on-year to $ 271 million, and the proportion of Islamic regions in total cosmetics exports also increased slightly.
KIHI, the Korea Institute of Halal Industry (President Jang Geon), recently analyzed the export trends of cosmetics in the Islamic region by using statistics on cosmetics imports and exports from the Korea Cosmetics Industry Institute (President Cho Nam-kwon). It is said to have increased by 17.1% compared to the previous year to $ 270 million. The share of Islamic cosmetics exports in total cosmetics exports also increased 0.5% p from 3.7% in 2018 to 4.2% last year.
The reason for the rapid growth of cosmetics exports in the Islamic region is that Korean cosmetics companies have secured the global technology level, and the quality has been improved, and it is analyzed that the Korean wave culture is causing a global sensation.
Looking at each region, Southeast Asian countries accounted for 55., 6% of total exports of Islamic countries, with the highest proportion, followed by Central Asian countries (18.9%) and Arab countries (16.3%). In particular, it is noteworthy that exports to these regions are rapidly increasing, with the growth rates of the Central Asian and Arab countries growing at 43.5% and 42.6%, respectively.
Looking at Islamic cosmetics export trends by country last year, Malaysia was the highest at 88.9 million dollars, followed by Indonesia at 60.6 million dollars. The United Arab Emirates was found to be $ 17.3 million, Turkey $ 13.5 million and Saudi Arabia $ 10.9 million.
Malaysia and Indonesia ranked first and second in the top ten Korean cosmetics import countries, while Kyrgyzstan and Kazakhstan in the Central Asian countries ranked third and fourth respectively.
All in all, Korea was founded to focus on exporting cosmetics to Southeast Asia and Central Asia among the Muslim regions. In particular, among the countries importing more than $ 1 million, Kyrgyzstan (111.3%), Kuwait (152.9%), Iraq (51.6%), and Saudi Arabia (53.8%) last year increased significantly compared to the previous year.