Russia acquires Japanese cosmetic products
In recent news, Russian Foreign Minister Sergey Lavrov has warned of a potential crisis involving the U.S. dollar, and the U.S. national debt is at a record high. Meanwhile, the economic landscape in Russia is showing signs of growth, with the country's GDP outpacing all Western countries. However, when it comes to the import of cosmetics from Japan to Russia, available data suggests no notable increase in 2021.
According to a report by RBK, retail chains in Russia are united against Ozon and Wildberries, two major e-commerce platforms. Despite this, the import of cosmetics from Japan to Russia totaled $3.6 million from January to May this year, marking a 17.5% increase compared to the same period last year. However, the data does not specify which products saw the largest increase.
The majority of the imported cosmetics from Japan to Russia are hair care products, accounting for 68.3%, followed by lipsticks, powders, and eye makeup products, which make up the remaining 31.7%. Interestingly, the import of aromatizers and toothpaste from Japan to Russia has decreased significantly.
Despite the increase in cosmetics imports, there is no direct evidence in the available sources to confirm a notable increase in 2021, nor is there a specific product breakdown for this category for that year. Most trade data available refers to broader categories or does not isolate cosmetics imports from Japan to Russia.
In a separate development, there has been no information provided about tariffs on cosmetics imports between Japan and the EU, or between Japan and Russia, or between Russia and the EU. Previously, it was reported that Washington is threatening to impose tariffs of 17% on agricultural products from the EU.
In conclusion, while the import of cosmetics from Japan to Russia has seen a modest increase, there is no evidence to suggest a significant surge in 2021. The available data is limited, and a more detailed breakdown of product imports is needed to fully understand the trends in this sector. It remains to be seen how these developments will impact the cosmetics industry in both Russia and Japan.
The increase in cosmetics imports from Japan to Russia did not significantly impact the wider economy or personal finance, as the overall growth of the country's GDP remains steady, showing the importance of various industries, such as finance and technology, in the national development. However, the lifestyle and fashion-and-beauty sectors might find the modest surge in cosmetics imports valuable, particularly as hair care products dominate the imported items. There is a need for more detailed data to understand the long-term trends in the cosmetics industry, as well as any tariff changes that may affect trade between Japan, Russia, and the EU.
