Official figures reveal “continued rise in exports” across the UK

Earlier this week, HM Revenue & Customs (HMRC) published its latest set of figures for international trade, which reveal that exports were up substantially in the year to September 2018.

International Trade Secretary Dr Liam Fox MP noted that there has been a “continued rise in exports across the country” in recent months, as more and more British businesses begin trading internationally.

According to the latest figures, exports of goods from England increased by 3.1 per cent to hit £247.6 billion in the year to September.

During the same period, Scottish exports were up by 6.2 per cent (to £29.6 billion), while Welsh exports rose by three per cent (to £16.9 billion). Sadly, exports from Northern Ireland decreased slightly during the same period.

The Government’s data also reveals that the number of UK businesses exporting their offerings to non-EU countries has also increased significantly in the last quarter, rising to 49,000.

The report suggests that the most popular non-EU export destinations include the USA (a target market for 19.9 per cent of exporters), Australia (7.9 per cent) and Switzerland (7.3 per cent).

Dr Fox said: “The continued rise in exports across the country is fantastic news for Britain – driving job creation and prosperity.

“More than 110,000 businesses are expanding their horizons and making the most of the demand for quality British goods.

“Through our Export Strategy, my international economic department has set out an offer for all businesses to ensure they are able to make the most of the global opportunities this presents.”

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.

Share...