According to data from the National Trade Center (ITC) and the World Bank (WB), Vietnam’s imports of cosmetic products have risen to US$1.1 billion in 2016, double that of 2011. The value is forecasted to reach US$2.2 billion by 2020. What is more, Vietnam has signed several trade agreements which will reduce tariffs on imports down to between 0-5% which will help spur growth in the sector. The most imported cosmetic products are perfumes (55%), make-up (21%), and other products such as hair products and essential oils (2%-8%).
Cosmetics Registration in Vietnam
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