Page 26 - CTPA-Annual-Report-2019-book

6 The UK in the Global Landscape
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Trade Commentary
A renewed interest in trade data has come as
a result of the significant legal, political and cultural shifts that we are experiencing in current times. In this section, the opportunities and challenges for the UK cosmetics industry across the world are shown with the trade data.
The overall trade landscape has not experienced any shifts and we continue to maintain established trade relationships. Trade balance remains relatively stable but in trade deficit. This deficit was increased during 2019 in trade within the EU, but was decreased slightly in our worldwide trade. When considering regions, the EU continues as expected to be the main trading partner for the UK, as it still benefits from access to the Single Market and a common regulatory framework. With 65.5% of all exports and 62.7% of all imports, the EU surpasses any other markets. Not surprisingly, North America
and Asia continue to be main markets for imported goods in the UK with 15.2% and 12.6% respectively, while they are both around the 10% mark for exported goods. Notably, on exported cosmetic products, the MENA region continues to be an attractive market for the UK industry settling in at 5.8% value of all exported goods.
Figures for product categories have been included to give a better understanding of the strengths within the industry and different markets. Notably, the overall category under ‘Beauty’
(HS Heading 3304) is the main trade focus with Exports 44.5%/Imports 41.7% of the overall trade balance for all categories. On exports, this is followed by the category for ‘Deodorants, shaving products, etc.’ (HS Heading 33.07) with an 18.8% market share, however fragrance is in second position for imported goods, with the category ‘Perfume’ (HS Heading 33.03) representing
19.9% of the market share. Within each category, you will be able to see the top three countries both within the EU and outside of the EU in which the volume of trade is significant.
The Republic of Ireland, USA and China remain prominent along the trade landscape of most categories. However, interestingly there is a significant amount of trade in certain categories for countries located in the Middle East, India and Africa.
*Source: www.uktradeinfo.com (2018/2019 data as at Q1 2020)
Exports Imports
Top 5 EU Markets (in millions)
France Germany Poland Italy Spain
Irish Republic Belgium Germany France Netherlands
818.9
900.4
North America 394.4 658.1
USA
Sunscreen Monograph Review Local ingredient restrictions
South America 42.5 3.8
297.7
275.4
257.0
253.5
233.4
238.1
513.3
590.2 410.2
381.8
365.6
340.2
226.6
231.2
219.4
208.3
639.3
635.8