Brazilian cosmetics trade grows 8.6% from January to October

The Brazilian Personal Hygiene, Perfumery, and Cosmetics sector grew 8.6% from January to October 2022 compared to the same period last year. According to an analysis by the industry association ABIHPEC, the growth represents a USD 1.26 billion figure, with a surplus of USD 37 million, reversing the deficit recorded in the same period of 2021 (USD – 1.9 million).

Cosmetics exports amounted to USD 651.2 million, up 12.7% compared to 2021 (US＄577.6 million). In turn, the total result for imports was US＄614.2 million, an increase of 6.0% compared to the January-October period of the previous year (US＄579.5 million).

According to Joao Carlos Basilio, executive president of ABIHPEC, the sector has demonstrated “resilience” in the face of internal and external clashes that sometimes reduce the competitiveness of Brazilian products in the international market.

“Despite the current political and economic challenges, we continued to have a good export volume and are taking advantage of good opportunities over the next five quarters of 2022,” says the ABIHPEC executive. “However,” he added, “it is still necessary to develop a foreign trade policy to mitigate asymmetries that reduce the competitive capacity of the national product.”

The sector’s exports reached US$62.9 million in October 2022, a 4.2% increase over the same month the previous year. On the other hand, imports totaled US$ 64.0 million, representing a significant 33.7% increase over October 2021. As a result, the trade balance for the month was in deficit by US$1.1 million, in opposition to the trade balance surplus of US$12.5 million in October 2021.

“Even with the deficit in the October balance compared to the same month last year, the YTD performance from January to October operated in surplus, which is a great indication that we will close 2022 with a positive trade balance for the third consecutive year,” Basilio believes.

The trade flow in October also grew (17.2%) and reached a value of USD126.9 million. Among the most exported categories in October/2022 are hair products, soaps, and oral hygiene products.

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