Hainan Cosmetics Exports in H1 Increase 430% YOY to Nearly 100M Yuan

Beauty and toiletries imported 11.716 billion yuan ($1.6 billion) in the first half of the year, down 23.1% year on year.

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On July 19th, the news conference on Hainan Province's foreign trade for the first half of 2023 was held in Haikou.

According to the statistics from Haikou Customs, the total import and export value of goods in Hainan reached 115.16 billion yuan ($16 billion) in the first half of 2023, surpassing 100 billion yuan ($14 billion) for the first time in the same period in history, with a year-on-year growth of 26.4%, ranking 4th in the country in terms of growth rate. Among them, the export value was 38.2 billion yuan ($5.3 billion), with a year-on-year growth of 45.1%, ranking 3rd in the country. The import value was 76.96 billion yuan ($10.7 billion), with a year-on-year growth of 18.9%, ranking 7th in the country.

In terms of imports, consumer goods were the largest imported goods in Hainan in the first half of 2023, with an import value of 22.92 billion yuan ($3.2 billion), accounting for 29.8% of the province's total import value during the same period. The import value of beauty and personal care products in the first half of the year was 1.172 billion ($163.2 million), a year-on-year decrease of 23.1%. The export value of beauty and personal care products in the first half of the year was 94.9268 million yuan ($13.2 million), a year-on-year increase of 430.31%.

In addition, it was revealed at the conference that in the first half of the year, the import and export value of Hainan to other RCEP member countries accounted for 32.6% of the total import and export value of goods in Hainan during the same period. Among them, Australia, Indonesia, and Japan were the top three trading partners, with growth rates of 35.8%, 100%, and 22.9%, respectively, mainly importing minerals, coal, cosmetics, and other goods.