São Paulo – Brazilian exports of cosmetic, toiletry and perfumery products increased by 7.7% in the first two months of this years compared to the same period in 2023, grossing USD 133.5 million. The data made public on Thursday (21) by Brazilian Cosmetic, Toiletry and Perfumery Industry Association (Abihpec) that highlighted a solid growth despite the challenges.
Top exports in the first two months were hair products, soaps, and skin creams, with increases to major markets like Mexico, Colombia, Chile, Peru, and Portugal. Latin American countries are still the leading destinations of the products.
Although good, the two-month results fall short of the industry’s expectations. They were driven down by a 25% decrease in exports to Argentina, the leading trade partner of the industry that still faces various domestic problems, including a lack of foreign exchange reserves, thus making it impossible to honor its import payment obligations.
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“Despite falling short of the industry expectations, the results of the first two months of 2024 were good, with an export growth and a trade surplus. The following months are forecast to keep this growth and consolidation trend, reaching values similar to 2023’s, thus maintaining the industry with a trade surplus for another year,” Abihpec Executive President João Carlos Basilio was quoted as saying in a statement.
Imports grossed USD 128.5 million, up 3.8% compared to the first two months of 2023, making the trade flow add up to USD 262 million, up 5.8%.
Translated by Guilherme Miranda
