According to updated trade data from the General Administration of Customs of the People's Republic of China, 2FIRSTS has compiled the e-cigarette export figures to South Korea in September 2023. The details are as follows:
The export volume reached approximately $59.78 million, representing a sequential increase of 1.15% and a year-on-year growth of 43.55%.
The export volume decreased by 0.05% to approximately 2,587 tons, while it increased by 174.9% compared to the same period last year.
The export unit price was $23.11 per kilogram, with a month-on-month increase of 1.21% and a year-on-year decrease of 47.78%. The average price for "e-cigarettes and similar personal electronic vapor devices" stood at $2.02 per unit.
Among them, "e-cigarettes and similar personal electronic vaporizers" accounted for 11.73% of the export category, while "non-combustible products containing nicotine without tobacco or reconstituted tobacco" accounted for 88.27%.
According to data from Statista, it is predicted that the revenue of the e-cigarette market in South Korea will reach $60.5 million in 2023. The market is projected to have an annual growth rate of 2.43% from 2023 to 2028. Looking at the total population, the per capita consumption of e-cigarettes in South Korea is estimated to be $1.26 in 2023. The e-cigarette market in South Korea is experiencing rapid growth, thanks to its various flavors and fashionable designs that appeal to tech-savvy individuals.
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