This was Wardah’s manufacturer Paragon Technology and Innovation’s (PTI) 53rd time to ship out cosmetic and facial care products this year with the latest venture entirely for the Malaysian market.
“I would like to extend my appreciation to PTI for successfully expanding their overseas presence amid a pandemic and global economic slowdown,” said Indonesia’s Minister of Trade Agus Suparmanto.
The trade minister highlighted the massive potential for cosmetic exports considering that last year, the global demand for cosmetic goods and perfumes reached $82.40 billion.
Between January and August 2020, Indonesia’s cosmetics product exports totaled $135.67 million.
Thailand was the primary export market accounting for 18.89 percent of total exports followed by Singapore at 16.58 percent.
Malaysia is the third-biggest buyer for Indonesia’s cosmetics product exports with 10.71 percent of total exports in addition to the Philippines with 9 percent and Japan with 6.04 percent of total exports, respectively.
Indonesia’s Trade Minister explained that there remains plenty of opportunities to grab hold of to increase the country’s cosmetic goods exports globally.