A new report has estimated that international demand for British-made goods and services will double by the year 2030.
High street bank HSBC’s latest Navigator report, which was published earlier this month, describes itself as “the most comprehensive research into global trade and business confidence.”
Upon surveying some 6,000 businesses from all around the world for the latest report, the bank has said that Britain has a bright future in terms of exports and international trade, estimating that UK exports of goods and services will rise in value by as much as 22 per cent within the next two years.
By 2030, the value of exports will be double what it is today, the report claims.
It adds that in the short-term, British businesses that trade on an international basis are feeling confident that both imports and exports will rise over the next 12 months.
This confidence follows new figures published by the Office for National Statistics (ONS) earlier this week, which found that UK exports had increased from £59.4 billion in March 2017 to an impressive £627.6 billion at the end of February this year.
Commenting on the good news, International Trade Secretary, Dr Liam Fox, said: “The UK is entering a period of unprecedented economic opportunity, with latest figures showing a surge in exports together with optimism for continued export growth in the years ahead.
“As an international economic department, we are supporting UK businesses from every part of the country to succeed on the global stage, and ensure this creates more jobs and prosperity in every part of the country.”