The CTPA (Cosmetics, Toiletry and Perfumery Association) has analyzed the trade flows (related to cosmetics) of the UK in 2021. Result: the country has exported more (in value) than it has imported.
The United Kingdom has a positive trade balance for 2021. This means that the value of exports exceeds that of imports. The country therefore has a trade surplus.
“But that's not necessarily a good thing,” says the CTPA. “This may be a direct consequence of the UK leaving the EU and not being able to access the European market. The new regulatory landscape has a direct impact on trade flows”.
Exports outside the European Union increased in 2021. However, the European Union remains the United Kingdom's main trading partner (over 60%).
“Asia and North America represent a significant share of extra-EU trade. For imports, Asia and North America occupy the second and third places respectively. For exports, these regions remain important, but their order is reversed in terms of value”, comments the CTPA.
