British exports to the US reach record high

British exports to the US reached a record high in the year ending April 2019, according to the latest data.

The Office for National Statistics (ONS) published the data showing that total UK goods and services exported increased by four per cent to £645.8 billion.

The total figure for goods exported to the US was £56.7 billion, which is more than £20 billion more than the UK’s next biggest export market, Germany.

The US is the largest export market for the UK, while the UK is the largest European export market for the US.

The total UK goods exported rose by almost five per cent to £356.6 billion, while the total trade between the UK and the US in 2018 was worth £190.5 billion.

Exports of British goods increased by £16 billion last year, with the US accounting for £6.1 billion of that increase.

Dr Liam Fox MP, Secretary of State for International Trade, said: “Today’s record-breaking figures putting total UK exports at over £645 billion demonstrates the resilience of our economy, despite the increasingly uncertain global economic environment.

“I encourage exporters right across the country to use today’s statistics as evidence that despite global headwinds, the most prosperous countries in the world are demanding British goods at unprecedented levels.”

Reanda UK is a subsidiary of leading independent accountancy firm Grunberg & Co Limited. Our aim is to help businesses and individuals to navigate the UK’s world-renowned business and tax infrastructure, and to support them with their international ambitions. To find out how we can help you, please contact us.

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