China Q1 Retail Sales of Cosmetics Up 5.9%
- Chaileedo Press
- Apr 18, 2023
- 2 min read
China total retail sales of cosmetics products reached 104.3 billion yuan ($ 15.17 billion) in Q1 2023, with an increase of 5.9% compared to same period of 2021.
On April 18, the data released by National Bureau of Statistics of China showed that in the first quarter, the total retail sales of consumer goods reached 11,492.2 billion yuan($1671.54 billion), up by 5.8% compared to 2022. The total retail sales of cosmetics reached 104.3 billion yuan ($ 15.17 billion), with an increase of 5.9%. While in March, the retail sales of cosmetics were 39.3 billion yuan ($5.72 billion), a year-on-year increase of 9.6%.
China imported 38,231 tons of beauty cosmetics and toiletries products in March, with an import value of 14.39 billion yuan ($2.09 billion). The total import of beauty cosmetics and toiletries products in the first quarter was 89,624 tons, down 8% compared with the same period last year. The total import value of beauty cosmetics and toiletries products in Q1 was 35.06 billion yuan($5.1 billion), with an increase of 1.2% compared to 2021.
According to the report from China Cosmetics International Cooperation Forum on Cosmetics, China's cosmetics trade deficit was $16.67 billion in 2022, a decrease of 14.3% compared to 2021. The total import value of cosmetics reached $22.39 billion, a year-on-year decrease of 10.2%. The total export value was $5.72 billion, with an increase of 17.8%.
In terms of imports, China mainly imported cosmetics from Europe, America, Japan and South Korea. In 2022, cosmetics exported to China from France, Japan, South Korea, the United States and the United Kingdom accounted for 83% of China's total cosmetics imports. Followed by Italy, Belgium, Spain, Germany and Switzerland, accounting for 10% of China's total cosmetics imports.
From the perspective of imported cosmetics products categories, the cosmetics category with the largest import value in China was beauty and skin care products. In 2022, the import value of beauty and skin care products reached $18.032 billion, accounting for 81% of China's total cosmetics products imports. Personal care products are the second largest cosmetics import category in China.
In 2022, the United States was the leading exporter of China's cosmetics. Exports to the United States accounted for 21.6% of China's total cosmetics exports, with an value of US$1.24 billion, a year-on-year increase of 3.6%. Followed by the United Kingdom, Japan, Thailand, Indonesia, Malaysia, the Netherlands, Australia and the Philippines.
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