Wednesday, December 30, 2009

Fair trade in UK sees large growth in past decade

Spending on ethical products ranging from fair trade to eco-friendly products has tripled in the past decade. A survey on ethical spending was conducted by the Co-Operative Bank of the UK.

From this Press Association article, we read more stats from the survey.

The annual Ethical Consumerism report showed the total market for sustainable goods and services was worth £36 billion in 2008, up from £13.5 billion in 1999.

The rate of increase in household spending on ethical products outstripped the growth in overall consumer spending, which increased by 58% over the decade.

But the market for goods which were environmentally-friendly, sustainable or supported poor people remained a small percentage of the £891 billion spent by households last year.

Some sectors saw phenomenal growth, including Fairtrade goods which pay a premium to farmers and producers in poor countries in a bid to help them work their way out of poverty, according to the survey.

The Fairtrade market, which now covers products from developing countries ranging from coffee to cotton, was worth just £22 million in 1999.

Last year sales of Fairtrade products had grown to £635 million and the Co-operative is predicting it could break the £1 billion barrier in 2010.

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