Cosmetics exports down by 30%

Daily News Egypt
2 Min Read

Egyptian cosmetic exports fell 30% in the first half of the current year, recording $69m, down from $98m in the same period last year.

The report of the Export Council of Medical Industries indicated that L’Oreal Cosmetics Egypt topped the list of the top exporters in the first half of this year, with $194m, followed by Mashreq with $18.1m.

Unilever Egypt came third with exports of $8.1m, while Evyap Egypt ranked fourth with $3.8m.

Johnson and Johnson Egypt came in fifth place with $2.7m, followed by Royal Cosmetic in sixth with $1.9m worth of exports.

Eva Cosmetics exported goods worth $1.78m ranking seventh, one step ahead of Arma, which came in eighth with $1.76m of exports.

Madar Group Egypt came in ninth place with exports of $1.34m, followed by Johnson Wax Egypt tailing the list with exports valued at $1.33m.

Nabila Ibrahim, a member of the Pharmaceuticals, Cosmetics, and Appliances Chamber of the Federation of Egyptian Industries (FEI), said that the political unrest in some neighboring countries is the main reason for the drop in exports during the first half of this year.

She added that there were export contracts already signed with countries such as Tunisia and Libya, but the unrest occurring in those countries prevented companies from exporting.

She pointed out that, despite the appreciation of the dollar price against the Egyptian pound, demand is still down on Egyptian products.

She added that Arab countries are considered the largest consumer of Egyptian products, yet, they are suffering economic problems in the current period, forcing them to lower their imports from Egypt.

Share This Article
Leave a comment