Latvian cosmetics exports up 18% in 2018

  • 2019-02-21
  • LETA/TBT Staff

RIGA - Latvian cosmetics companies last year exported EUR 106 million worth of products, which is an increase of 18 percent against 2017, the Latvian Cosmetics Producers Association informed LETA, citing the Central Statistical Bureau’s data.

On the domestic market, the cosmetics companies’ sales rose by 6 percent to EUR 130 million in 2018, the association’s representatives said.

“The cosmetics industry has a potential in Latvia and world as it continues to develop. Furthermore, international experts forecast the cosmetics industry to continue growing just as swiftly also in the future, given the beauty and health cult currently dominating the world,” said the association’s chairwoman Ieva Plaude-Relingere.

The European Union still remains the cosmetics industry’s key export market as it is more comprehensible and accessible in terms of licensing and regulations.

The head of the association indicated that the statistics also include reexports because several international cosmetics companies are operating logistics centers in Latvia from which products are being shipped to other countries.

The Latvian Cosmetics Producers Association’s members include Madara Cosmetics, Bio2You, Stenders, Kinetics Nail System and Cosmetic Lab.