In the first half of 2026, small business exports reached $64 billion, marking an 11.6% increase compared to the same period last year and surpassing the $60 billion mark for the first time. Notably, cosmetics exports rose 30.7% to $5.07 billion, driven by strong performance in Latin America.
The Ministry of SMEs and Startups announced these findings on July 23 in its report on small business export trends for the first half of 2026.
The number of exporting small businesses also increased by 2.4% year-on-year, reaching a record high of 80,490 companies.
The top 10 export items from small businesses accounted for 36.2% of total small business exports. Cosmetics, which held the largest share at 7.9% of all export items, saw exports to Europe increase by 62.4% and North America by 36.8%. Exports to the emerging market of Latin America surged by 131.9%. Additionally, exports to the Middle East turned positive in the second quarter, reflecting successful market diversification.
Thanks to a global boom in artificial intelligence (AI) semiconductors and rising prices, semiconductor exports reached $2.28 billion, a 48.3% increase, marking the highest performance for the first half of the year. Exports of semiconductor manufacturing equipment also benefited from increased investment in AI semiconductors, totaling $2.03 billion, a 33.2% rise and the highest ever for the first half.
Furthermore, exports of measurement and control analysis equipment increased by 30.2% to $1.28 billion, achieving the highest performance for the first half. In contrast, automobile exports fell by 15.2% to $3.31 billion due to decreased exports to the Commonwealth of Independent States (CIS) and logistical disruptions caused by conflicts in the Middle East.
Online exports also experienced rapid growth, reaching $740 million in the first half, a 48.6% increase and the highest on record. The number of small businesses engaged in online exports rose by 30.5% to 4,051. Online cosmetics exports surged by 85.3% to $520 million, showing strong growth in the U.S., China, and European markets.
Last year, small business exports totaled $118.6 billion, a 6.9% increase from the previous year, with automobiles and cosmetics ranking first and second among export items.
Shim Jae-yoon, Director of Global Growth Policy at the Ministry of SMEs and Startups, stated, "Despite an unstable external environment due to wars and other factors, small businesses are achieving good results based on the expansion of K-beauty and other products in emerging markets like Latin America. The ministry plans to support the export capabilities of domestic companies to ensure the success of K-beauty spreads to other products."
* This article has been translated by AI.
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