China's Cosmetics Imports $19.1 Bn in September Down 14.32%
- Chaileedo Press
- Oct 24, 2022
- 3 min read
On October 24, the General Administration of Customs of the People’s Republic of China announced the national import and export customs data in September. From January to September this year, the total value of China's imports and exports was 31.11 trillion yuan(about $4.29 trillion), an increase of 9.9% over the same period last year. Among them, exports reached 17.67 trillion yuan(about $2.44 trillion), up 13.8% and imports reached 13.44 trillion yuan(about $1.85 trillion), an increase of 5.2%.
In September, the total value of China's imports and exports was 3.8 trillion yuan(about $524 billion), up 8.3% from last year and 2.6% from the previous month. Among them, exports reached 2.19 trillion yuan(about $302 billion), up 10.7% year-on-year and 3.2% month-on-month. Imports reached 1.62 trillion yuan(about $223.4 billion), up 5.2% year-on-year and 1.8% month-on-month.
Among them, beauty cosmetics and toiletries imported 37,160.1 tons in September, down 20.97% compared with the same period last year imports amounted to 13.82 billion yuan(about $1.91 billion), down 14.32% year-on-year.
January-September cumulative imports was 318,639 tons, and the same period last year than the decline of 9.2% and imports amounted to 111.06 billion yuan(about $15.3 billion), a decline of 6% year-on-year.
From the month-on-month trend, beauty cosmetics and toiletries imported tons fell 9.49%, but the amount of imports rose 7.8% month-on-month in September.
From the perspective of the main importing countries, Japan, France and South Korea are the major cosmetic importing countries in China. From January to July in 2022, the import amount from these three countries reached 49.14 billion yuan(about $7 billion), accounting for 58% of the total cosmetics imports from January to July. It occupied half of the cosmetic import amount.
After analyzing the total amount of cosmetics imported from Japan, France and South Korea in the past 12 years, CHAILEEDO found that France always held the position of the first importer of cosmetics in China during the 6-year from 2011 to 2016. However, in the following 5 years, its first ranking was occupied by Korea and Japan successively.
And as you can see from the data below, this year (January-July), France returned to No.1 as the top cosmetic importer in China with an amount of 20.28 billion yuan(about $2.9 billion) after five years. The amount is nearly twice as much as South Korea.
In terms of the amount of cosmetics imported by China from Japan, France and Korea, the position of Korea has changed several times over the past 12 years, but now the gap between Japan and France is getting bigger and bigger. CHAILEEDO also found that in the first half of this year, Korean companies haven’t ranked among the top 10 global cosmetics. Obviously, that is closely related to the economic, political and cultural factors between China and South Korea.
It is worth mentioning that data from the General Administration of Customs of People’s Republic of China shows that from January to July this year, the amount of cosmetics imported from the United States reached 9.464 billion yuan(about $1.35 billion), narrowing the gap with South Korea to 1.036 billion yuan(about $148 million) from 6.143 billion yuan(about $877 million) in the same period last year. As a result, South Korea has maintained its ranks as one of the top three importers of cosmetics in China for at least 12 years, which is in jeopardy.
Overall, the current Chinese cosmetics consumer demand is flat. Coupled with the impact of the epidemic and other factors overlapping, the imported beauty market is cold this year. The pressure of growth is inevitable. However, from the perspective of the market and policy environment, imported beauty into China will be a continuous and long-term trend.
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