(MENAFN) South Korea's cosmetics exports last year grew more than 50 percent to USD1.92 billion, giving the country its first annual surplus in the sector, the customs said, QNA reported.
South Korea had been in the chronic red in the cosmetics trade because of customers' preference for already established import brands from countries like the United States, France and Japan, local media reported.
Records from the Korea Customs service showed the trade deficit in the segment had ranged between USD400 million to USD600 million since up until 2012. The trend visibly tipped in 2013 when the number dropped to USD270 million.
Last year, South Korea exported USD1.92 billion in cosmetics while importing USD1.69 billion, customs data showed. In contrast to the USD64 million jump in overseas shipments, imports grew 9.3 percent, or USD14 million.
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