In this vast country spread across six time zones, French cosmetics enjoy an excellent image amongst consumers… At the International Days organized by Cosmed on June 10, 2016, Élodie Fayn, Trade Advisor at the Lifestyle-Health Division of the Business France USA office, presented the Canadian cosmetics market and the essential aspects to be aware of to export there.
Canada is spread across a 9,984,671 km² area, so it is larger than the United States, but its population is much less dense, with 35.54 million inhabitants in 2014 (1/10th of its American neighbour).
The Canadian economy
Canada is the 10th power in the world: it is ranked 12th for exports and 11th for imports on the global level.
Its GDP is 1,793 billion US dollars; it increased by 1.4% in 2015 (compared to 2.5% in 2014).
The inflation rate is estimated at 1.9% and the unemployment rate at 6.8%.
And the economic situation still seems contrasted today.
The 5 strengths of the Canadian economy
• Dynamic demography
• Low external debt
• Solid bank and financial sector
• Cautious public finance management
• Abundant energy resources
The 4 difficulties it is facing
• High household debt level
• High dependence on the United States
• Decrease of oil prices since early 2015
• Fall of the Canadian dollar compared to the American dollar
The 2 free trade agreements
• Among others, the North American Free Trade Agreement (NAFTA) between Canada, the United States, and Mexico has lifted customs barriers and facilitates the cross-border trading of goods and services
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