5-Jun-2013

Japanese cosmetics imports to China hit by territorial dispute

Recently published statistics reveal details of China’s cosmetics imports for January-April 2013. According to the figures, total cosmetics imports grew 1.8% to US$391m between January-April 2013. The value of imports from the EU was down $200m (-1.8%) on the same period in 2012. Imports from Japan showed a significant drop, falling 17.4% to $81m compared with the previous year. US imports, on the other hand, grew 17.1% to $42.2m as imports from South Korea soared 75.2% on last year to $40.8m.

Japanese imports to China had been performing well until a territorial dispute erupted between the two countries. Last September, the Japanese government purchased ownership of three privately held islands 300km from China’s coastline. China’s Foreign Ministry objected saying China would not “sit back and watch its territorial sovereignty violated”. Widespread riots against Japan swiftly followed in Chinese cities, while consumers cancelled trips to Japan and boycotted Japanese products.

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