According to the latest research, the UK has experienced 45 consecutive months of growth in the export market, with the sector reaching record levels.
The Department for International Trade (DIT), which published the figures, found that UK companies exported a combined £689 billion of goods and services, an increase of five per cent on the previous year’s figures.
Announcing the “record-breaking year”, the Government office said some of the fastest growing exports included cereals, up by 16.6 per cent, fish and shellfish, up 13.1 per cent, and meat and related products, up 12.4 per cent.
Goods exports to non-EU countries, meanwhile, grew by a significant 13.6 per cent, highlighting the individual strength of the UK economy.
Commenting on the report, Secretary of State for International Trade, Liz Truss, said: “The UK is an exporting superpower and these new statistics show that UK companies are exporting record levels of goods and services.
“As a newly independent trading nation, we will strike new trade deals with key partners across the world, open up new markets and make it even easier for our businesses to meet global demand.”
The figures come after the UK announced the development of up to 10 new freeports, enabling regional businesses to import, manufacture, and export goods without attracting customs duties and import VAT.
Additionally, a full customs declaration is not required to move goods into a freeport, saving businesses even more time and money.
“We are taking back control of our trade policy, and opening every corner of the UK to opportunities across the world,” said Ms Truss on freeports.
“Freeports will unleash the potential of our historic ports, creating jobs and regenerating communities across the UK. These hubs will also deepen partnerships around the world as we restore our economic and political independence.”
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