Greece is the biggest supplier of cosmetics in the Cypriot market, based on figures for the January-November 2017 period, with exports of Greek cosmetics to Cyprus soaring 435 pct in the last decade, the Greek embassy in Cyprus said in a report.
The report, based on data released by the Cypriot Statistics Service, said that the Cypriot market was showing very good prospects for exports of cosmetics. In 2017, Greece accounted for 35.7 pct of total imports of cosmetics in Cyprus, followed by France, Germany, Italy, UK, Spain, Netherlands, Switzerland, Belgium, Israel, UAE, US and Ireland. A big part of Greek exports to Cyprus cover re-export of products by foreign firms, although there were no statistics on them.
In 2000, Greece exported cosmetics worth 6.85 million euros to Cyprus, soaring to 33.077 million in 2016 and 36.674 million in 2017. Greek exports grew 10.8 pct in 2017 from 2016. Exports of cosmetics accounted for 2.59 pct of total Greek exports to Cyprus in 2016, falling to 2.39 pct in 2017. Exports of cosmetics to Cyprus peaked in 2009 (36.51 million euros).
Imports of cosmetics from Cyprus totaled 2.42 million euros in 2016 and 2.85 million in 2017.