Call us today

Latest trading figures “demonstrate the growing appetite for British produce outside of the EU”

Get in touch today - call Kent on 01634 570 390 or Surrey on 01737 370 493

Book a FREE consultation

If you would like to get some impartial advice, simply book a free consultation and we'll get in touch with you as soon as we can.

Latest trading figures “demonstrate the growing appetite for British produce outside of the EU”

The demand for UK goods and services “is growing across the globe”, a new study has revealed.

The figures, published by the Office for National Statistics (ONS), reveal that UK exports rose by 2.7 per cent to £634.1 billion in 2018.

Encouragingly, the figures also show that the share of UK exports to the EU over the past 10 years has declined by nearly five per cent, with UK businesses instead preferring to trade with non-EU partners.

The figures will be welcomed by businesses during an uncertain trading period, largely spurred on by continued Brexit uncertainty and global trade tensions.

In total, the report shows that the export of goods and services to non-EU trading partners in 2018 reached a high of £345.1 billion. Likewise, the figures show an increase in the share of exports going to the UK’s top three non-EU trading partners – the USA, China and Switzerland – increasing from 21.3 per cent in 2000 to 25.4 per cent in 2018.

Over the same 12 months, the share of UK exports to the EU dropped from 54 per cent to 45.6 per cent, “demonstrating the growing appetite for British produce outside of the EU”.

Accordingly, exports grew fastest to India, up 19.3 per cent, followed by Japan (7.9 per cent), China (4.6 per cent), and Canada (4.2 per cent), while exports to the EU rose just 3.6 per cent.

Commenting on the figures, Secretary of State for International Trade, Liam Fox, said these latest figures “show demand for UK exports across the globe”.

“Now more than ever is the time for UK businesses to be exploring opportunities overseas,” he added.

Top

Urgent COVID-19 Notice
Working From Home

Our first priority is the health and well-being of our team and our community. Therefore, with a heavy heart we have made the decision to temporarily work from home with immediate effect.

We are listening to the government’s daily updates, taking each day as it comes, and will reopen our offices as soon as it is safe to do so.

If you have any questions or need to discuss any issues at all please do email or call us on our usual number 01634 570 390.

The general email is enquiries@orchardaccountants.co.uk.

We hope everyone is keeping well and staying safe.

This website uses cookies to enhance your browsing experience... moregot it