Due to strong exports of cosmetics and automobiles, small and medium-sized enterprise exports reached $27 billion (approximately 38.27 trillion won) in the first quarter of this year, representing a 0.7% increase compared to the same period last year.
The Ministry of Small and Medium-sized Enterprises and Startups announced on the 14th the '2025 Q1 trends in small and medium-sized enterprise exports.' Exports from small and medium-sized enterprises amounted to $27 billion, a 0.7% increase from the same period a year earlier. The main reasons for the increase in small and medium-sized enterprise exports are attributed to strong export performance of key products such as cosmetics, automobiles, and semiconductor manufacturing equipment, as well as increased demand due to a manufacturing boom in China.
In particular, small and medium-sized enterprise exports have continued to rebound for five consecutive quarters since turning positive in the first quarter of last year (+0.1%).
The number of exporting small and medium-sized enterprises in the first quarter of this year increased by 1.6% compared to the same period last year, reaching 63,135 companies.
The top two export items for small and medium-sized enterprises, cosmetics ($1.84 billion, +19.6%) and automobiles ($1.74 billion, +67.4%), recorded the highest export amounts in the history of the first quarter.
In particular, the export of cosmetics achieved the best performance for the first quarter in the United States, the largest export market, and exhibited double-digit growth rates in eight of the top 10 countries for small and medium-sized enterprise exports, indicating a diversification of the export market.
Among the top 10 countries for small and medium-sized enterprise exports in the first quarter of this year, exports increased in six countries: China, Japan, Hong Kong, Taiwan, Thailand, and Indonesia, while exports decreased in four countries: the United States, Vietnam, India, and Mexico.
In the case of the United States, the largest export country for small and medium-sized enterprises, exports of cosmetics increased, but demand for equipment related to secondary batteries decreased due to the global electric vehicle chasm, leading to declines in other machinery ($16 million, -47.4%) and electronic application devices ($13 million, -25.6%). Additionally, due to the United States' tariff measures, steel product exports fell by 17.8% and aluminum product exports by 7.6%.
Lee Soon-bae, director of global growth policy at the Ministry of Small and Medium-sized Enterprises and Startups, noted, "As the U.S. tariff measures are becoming more pronounced, we will continue to monitor the impact of tariffs on small and medium-sized enterprises and swiftly implement additional support measures for them to respond to tariffs," adding, "We will fully support efforts to sustain the current positive trend in small and medium-sized enterprise exports this year."