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Capitalising on Beauty: A Preliminary Analysis of the Cosmetics Industry in Barbados

The recent announcement by the Government of Barbados to stimulate enterprise development and expand the base of exported products to include botanicals provides a fitting impetus for research into the local cosmetics industry. Cosmetics exports are one of the strongest performing in the Chemicals and related products industry for Barbados with Perfumes and Toilet Waters being the largest export category of cosmetics from the country. Empirical data reveals the global demand for cosmetic products continues to be strong. The results of the comparative advantage analysis for Barbados cosmetics exports from 1992–2012 indicate comparative advantages for the years 1992–1994, 2005–2006 and 2008–2012.