New figures reveal exports on the rise across the UK - Business Leader News

New figures reveal exports on the rise across the UK

Export containers New data published by HMRC shows that goods exports have risen across the UK. The sustained rise in exports will be welcomed by British firms who continue to find success in markets around the world.

In the year to June 2018, the overall value of UK trade in goods exports increased by 5.4% (compared with the same period last year). The overall value of imports increased by 3.3%.

The figures show an increase in exports from all nations of the UK in the year ending June 2018. Exports of goods from England increased by 4.3% to £244.8bn; in Scotland, goods exports increased by 7% to £28.8bn; in Wales, goods exports increased by 4.2% to £16.6bn; and in Northern Ireland, goods exports increased by 0.8% to £8.5bn.

The positive figures come shortly after the launch of the Government’s Export Strategy which set a new ambition to increase exports as a proportion of UK GDP to 35%.

International Trade Secretary, Dr Liam Fox MP said: “The continued rise in exports across the country is fantastic news for Britain – driving job creation and prosperity across the UK. Our firms should look at these figures and be confident about the opportunities they have to grow their business overseas.

“People around the world want to buy British and, with the launch of our new 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.”

The HMRC figures continue to build a positive picture of UK exporting following statistics published last month by the ONS which show an increase in exports of both goods and services, as well as a trade deficit that continues to narrow.