Colombian cosmetics on the rise

Published on 05 November 2019

Colombian cosmetics exports have performed well so far this year. Global economic uncertainty does not seem to be a challenge for this dynamic.

The fashion industry is one of the emblems of Colombian productive diversification, and a benchmark of trends in the region. In conjunction with textiles, cosmetics manufactured in the country are in several Latin American markets, in which it has had a performance so far this year, as shown in the following table, in which the evolution of exports can be seen of these products from Colombia between January and August compared to the same period of 2018.

Among the large destination markets, the fastest growing was Mexico, which increased its purchases from US $ 29 million to US $ 34 million. On the other hand, the other two relevant destinations with good dynamism were Peru and Chile, for which the value of the merchandise shipped increased by 9% and 12% respectively. In the counterpart, products destined for Ecuador generated a 3% lower income but this fall was largely offset by the aforementioned increases. In the following table, the participation of the main destinations can be observed.

In general terms, the presence of Colombian beauty products is quite diversified in terms of markets. In fact, below Bolivia, there are countries in Central America, the United States and even Venezuela. The means of transport used to reach these places are mainly maritime and air, without a specific predominance for any. As for land shipments, they reach nearby markets such as Ecuador and Venezuela, although there are also some exceptions to Peru. Below is the distribution of the shipping methods, adapted to the proximity or needs of the markets.

Colombia has the conditions to continue advancing in the international market. Both its location and its experience in the industrial sector, are a good base to support the expansion of both local and foreign brands, which rely on the country as a place to manufacture their products. Incidentally, makeup is an element that is resistant to economic instability and, even, its demand increases when economies decrease, with the cases that are part of the so-called lipstick effect.

For more information on Colombian cosmetic exports, you can enter the Veritrade portal
Request your free trial by going to: https://bit.ly/2NlIQgm

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