According to the latest trade statistics for 2018, exports of goods from the UK grew at the second fastest rate of the top five major global economies.
Despite the difficult backdrop and uncertainty of Brexit and a general slowdown in the global economy, British exports grew by 2.7 per cent to £636 billion, new figures from the Office for National Statistics reveal.
This means that the UK was the second fastest growing goods exporter among the top five economies, just behind China, as good exports grew by 3.1 per cent to £10.6 billion in the year to January 2019.
While the UK enjoyed a period of export growth larger economic blocs, such as the Eurozone saw a slowdown in growth.
The International Trade Secretary, Dr Liam Fox MP, said: “UK exports continuing to grow underlines the fundamental strength of the British economy despite the uncertain global economic outlook. Goods exports in particular performed well, rising faster than all of the top five largest economies except China in 2018 – yet further evidence of the massive demand for British products.
“We are seeing many of our trading partners, particularly in the Eurozone, struggle to cope with external economic pressures, so maintaining an upward trend in this climate reinforces that message that Britain is open for business.
“My international economic department is focused on growing exports and boosting the UK economy through our Export Strategy, providing stability as we leave the European Union and putting the UK at the heart of the world’s fastest growing markets through an independent trade policy. These priorities are key to Britain’s economic future.”
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