Korea’s e-commerce exports surpassed overseas direct purchase in 2016

Statistics Korea, the government-run statistical service authority, said that the country’s e-commerce exports totaled KRW 2,282.5 billion in 2016, up 82% from KRW 1,254.4 billion in 2015, while its overseas direct purchase through online shopping malls abroad increased 12.1% to KRW 1,907.9 billion over the same period. The year of 2016 marked e-commerce exports surpassed overseas direct purchase in Korea, the first-time ever.

By countries, Korea’s e-commerce exports to China showed a stunning 107.7% increase last year, followed by Japan (+39.0%), U.S. (+14.6%), ASEAN (+25.8%) and EU (+53.5%). But the figures to Middle East registered a 12.1% decrease over a year ago. In the meantime, overseas direct purchase from EU, China and Japan recorded a 43.7%, 45.0% and 43.1% jump in 2016, respectively, while the numbers from U.S. and the Middle East were down 0.5% and 37.5% from a year ago.

By items, cosmetics took the lion’s share (71.6%) of total e-commerce exports in Korea last year, followed by garments (15.4%). Exports of cosmetics through e-commerce platforms, in particular, more than doubled to KRW 1,635.8 billion in 2016 over a year ago. For overseas direct purchase, garments topped the list with a 38.2% share, followed by foodstuff (23.2%), electronics (10.1%), household goods (7.9%) and cosmetics (6.9%).

Source: Statistics Korea Press Release dated 02/03/07