China's Cosmetics Imports Slump 11.5% in November
- Chaileedo Press
- Dec 7, 2022
- 3 min read
The import value of beauty cosmetics and toiletries category in November was 12.57 billion yuan (about $1.8 billion), down 11.54% year-on-year.
On December 7, the General Administration of Customs of the People’s Republic of China announced the import and export customs data for November. According to customs statistics, in the first 11 months of this year, China's total import and export value of 38.3 trillion yuan (about $5.5 trillion), an increase of 8.6% over the same period last year. Among them, exports were 21.83 trillion yuan (about $3.13 trillion), an increase of 11.9%. The imports are 1.6 trillion yuan (about $229.3 billion), an increase of 4.6%.
In November, the total value of China's imports and exports was 3.7 trillion yuan (about $530 billion), an increase of 0.1% year-on-year and a 4.2% increase from a year earlier. Among them, exports were 2.1 trillion yuan (about $301 billion), up 0.9% year-on-year, up 1.3% month-on-month. The imports were 16.5 trillion yuan (about $2.4 trillion), down 1.1% year-on-year, up 8.3% month-on-month.
According to customs statistics, imports and exports to ASEAN, the European Union and the United States and other major trading partners grew. In the first 11 months, ASEAN is my largest trading partner, I trade with ASEAN worth 5.89 trillion yuan (about $844 billion), an increase of 15.5%, accounting for 15.4% of total foreign trade value in China. Among them, exports to ASEAN were 3.42 trillion yuan (about $490 billion), an increase of 22.2%. Imports from ASEAN were 2.47 trillion yuan (about $354 billion), an increase of 7.4%.
Among them, beauty cosmetics and toiletries imported 34427.9 tons in November, down 14.26% compared with the same period last year. The imports amounted to 12.57 billion yuan (about $1.8 billion), down 11.54% year-on-year.
From January to November this year, the total cosmetic imports of 388,671.5 tons in November, down 11.2% compared with the same period last year. The imports amounted to 138.64 billion yuan (about $20 billion), down 5.8% year-on-year.
From the month-on-month trend, the number of tons imported since August has been on a downward trend, and the amount of imports has been growing this month has also declined. Among them, the number of tons fell by 3.4% and the amount fell by 16.4%.
In fact, in October this year, 35,637.7 tons of cosmetics and toiletries were imported, down 24% year-on-year. The import amount was 15.04 billion yuan (about $2.2 billion), up 1.4% year-on-year. 354,257.3 tons were imported from January to October, down 10.9% year-on-year. The import amount was 126.08 billion yuan (about $18.1 billion), down 5.2% year-on-year.
From the changes on cosmetic imports in January-November 2022, cosmetics and toiletries imports are the highest since the beginning of the year in October. There is a slight recovery trend compared to the obvious decline in September, which is related to the pre-sale of the Double 11 shopping festival in October. Brands need to stock up inventory in advance. However, it is still difficult to escape the downward trend in November just in time for the Double 11. It may be related to the recurring epidemic in China in November.
In addition, the cosmetics industry categories have also seen a large decline this year.
From the category point of view, color cosmetics, perfume, sunscreen and facial masks have all declined in varying degrees. O&O consulting data show that in the past year (up to June 2022), perfume sales across the network were 13.751 billion yuan (about $2 billion), down 10.26% year-on-year. Colored cosmetics’ sales were over 37 billion yuan (about $5.3 billion) online, down 4.89% year-on-year. And in the recent year ending July 2022, total online sunscreen sales were 12.566 billion yuan (about $1.8 billion), down 2.16% year-on-year. Facial masks sales were 37.66 billion yuan (about $5.4 billion) online, down 11.13% year-on-year.
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