In 2024, our trade balance for cosmetics and personal care products continued the downward trend begun in 2022. With our exports remaining steady from 2023, a slight increase in our imports both from the EU and globally have brought our trade deficit to just over £1.4bn. While this is a significant deficit, we will have to place it in the context of the UK’s economy and consumer habits to truly understand it.
The current trade deficit is, at least partly, due to our increase in imports from Asia and the EU, while we have maintained our export levels due to increases in trade with North America and Western Europe. An increment of 30% trade with Canada and 45% with Switzerland represent these export increases, respectively.
CTPA works closely with the Department for Business and Trade (DBT), with Civil Servants in the UK and abroad, with international Embassy colleagues and sister trade associations to conceive solutions together and overcome potential barriers, existing and potential. We’re proud of our long-standing reputation as a science-led, solutions-focused expert invited to shape the future of policies abroad that promote industry progress while protecting consumer safety.
Source: https://www.uktradeinfo.com
(2023-2024 data as of Q1 2025)
