cosmetic market russia & brazil
Russia
Cosmetic Market
The Russian cosmetic market is increasing in consistent rate between 10-12% for the past Five years and is expected to continue growing at the same pace in the coming years. The total global market for cosmetic industry is 463 BN US $ and Russia consumes 2.7% of the market at an estimated 16.5 BN US $, and it is in the top 4 countries in Europe.
Consumption Pattern
1. GDP Per Capita
The GDP per capita in Russia has been rising for the past years but at a declining rate (24.4%, 5.7%, and 3.6%). Thus it shows improvement in the standard of living for the russian population but the declining in rising percentage shows there is some problems.
2. GDP Growth rate
The growth rate is declining and might be negative in the upcoming years. which is bad indicator of the Russian economy thus it shows is suffering and might get into recession forcing the Russian government to cut on fiscal policies to avoid it.
3. Inflation
inflation is continuously rising at hit a high of 8.29% which reduce consumer spending and negative. Thus affect the negatively on the overall economy.
Foreign Trade Balance
Russia trade surplus decreased to $12.95 billion in September from $15.8 billion in the previous month. The main reason was a decline in exports, due to tensions with Ukraine. However Russia's trade balance will remain in large surplus as a result of the high proportion of demand-inelastic items in the country’s exports.
Fiscal & Monetary Policies
Russia adopted fiscal rule in an increase in exchange flexibility rate targeting the rise in inflation. In addition, an improved monetary policies framework is adopted. However the central bank decided to keep interest rate the same for the time being. And the government is aiming to use expansioray fiscal and monetary policies to boost the GDP but it my backfire ad rises inflation.
A decrease in oil price and a rise in US interest rates will impact negatively on the Russian economy since Russia depends a
Cosmetic Market
The Russian cosmetic market is increasing in consistent rate between 10-12% for the past Five years and is expected to continue growing at the same pace in the coming years. The total global market for cosmetic industry is 463 BN US $ and Russia consumes 2.7% of the market at an estimated 16.5 BN US $, and it is in the top 4 countries in Europe.
Consumption Pattern
1. GDP Per Capita
The GDP per capita in Russia has been rising for the past years but at a declining rate (24.4%, 5.7%, and 3.6%). Thus it shows improvement in the standard of living for the russian population but the declining in rising percentage shows there is some problems.
2. GDP Growth rate
The growth rate is declining and might be negative in the upcoming years. which is bad indicator of the Russian economy thus it shows is suffering and might get into recession forcing the Russian government to cut on fiscal policies to avoid it.
3. Inflation
inflation is continuously rising at hit a high of 8.29% which reduce consumer spending and negative. Thus affect the negatively on the overall economy.
Foreign Trade Balance
Russia trade surplus decreased to $12.95 billion in September from $15.8 billion in the previous month. The main reason was a decline in exports, due to tensions with Ukraine. However Russia's trade balance will remain in large surplus as a result of the high proportion of demand-inelastic items in the country’s exports.
Fiscal & Monetary Policies
Russia adopted fiscal rule in an increase in exchange flexibility rate targeting the rise in inflation. In addition, an improved monetary policies framework is adopted. However the central bank decided to keep interest rate the same for the time being. And the government is aiming to use expansioray fiscal and monetary policies to boost the GDP but it my backfire ad rises inflation.
A decrease in oil price and a rise in US interest rates will impact negatively on the Russian economy since Russia depends a