Exports from the Hygiene, Perfumery and Cosmetics sector grow 7.7% in 2024

The Brazilian Association of Personal Hygiene, Perfumery, and Cosmetics Industry (ABIHPEC) has compiled data on the international cosmetics trade during the first two months of 2024, posting a solid growth scenario, albeit with some challenges identified. According to the association, exports from the hygiene and cosmetics sector reached US$ 133.5 million, marking an increase of 7.7% over last year. Imports totaled US$ 128.5 million, showing a growth of 3.8% compared to the first two months of 2023.

These figures reveal a trade flow of US$ 262.0 million, representing an increase of 5.8% compared to the same period in 2023. The trade balance for the period was in surplus by US$ 5.0 million.

The main categories exported during the two months were hair products, soaps, and skin creams, with gains observed in important markets such as Mexico, Colombia, Chile, Peru, and Portugal. Despite these variations, Latin America continues to be the largest export destination for the sector.

The association evaluates that, although positive, the results are below expectations. However, cosmetics exports have shown resilience recently, as evidenced by the 7.7% growth in sector exports compared to the 4.3% growth in manufacturing exports (overall).

The chart below uses DataLiner data to dig into the cosmetics exports (hs 33) recorded at Brazilian ports between Jan 2022 and Jan 2024.

Cosmetics Exports | Jan 2022 – Jan 2024 | TEU

Source: DataLiner (click here to request a demo)

These results reflect a 25.5% contraction in exports to Argentina, the top destination abroad for these goods, which continues to face various internal problems and lacks international reserves, making it unable to meet import payment commitments.

“The performance in the first two months of 2024, although below sectoral expectations, was positive, with growth in exports and a surplus in the trade balance. The forecast is that in the coming months, exports may continue to grow, reaching values similar to those of 2023, maintaining the sector with a trade surplus for another year,” analyzed João Carlos Basilio, executive president of ABIHPEC.

Source: Mirian Gasparin

Click here to read the original news article: https://miriangasparin.com.br/2024/03/exportacoes-do-setor-de-higiene-pessoal-perfumaria-e-cosmeticos-crescem-77-no-1o-bimestre/

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