Record-breaking year in exports for all UK nations - Business Leader News

Record-breaking year in exports for all UK nations

UK exports show no sign of slowing down as latest HMRC data shows every nation has broken its record for goods exports.

In the 12 months to Q2 2019, goods exports in England grew by 2.7% to £252.0bn; in Scotland grew by 14.5% to £34bn; in Wales grew by 6.8% to £17.7bn; and in Northern Ireland grew by 6.8% to £9.1bn.

The data shows that the benefits of global trade is being shared amongst all parts of the UK, with businesses opening themselves up to new markets around the world.

In the last year, demand for Scottish goods in China increased by 213.8% to £3.4bn while exporters in Northern Ireland saw overseas sales in the U.S. increase by 12.9% to £1.1bn.

At the same time, London and the East Midlands helped drive export growth in England, as exports grew by 10.1% to £40.5bn and 9.3% to £23.5bn respectively.

Brexit Boost

Since the EU referendum, overseas demand for goods has significantly increased in each UK nation when compared to the same three-year period before the Brexit vote. Since July 2016, exports from England, Scotland, Wales and Northern Ireland increased by £104.8bn, £9.8bn, £7.6bn, £4.8bn, respectively.

Secretary of State for International Trade, Liz Truss, said: “Opening up new markets for British businesses across the country is a top priority of mine, and todays statistics show businesses are benefiting more than ever from global trade.

“Having today launched a new online market access tool to helps business voice barriers to international trade, my Department is committed to ensuring businesses are able to fully grasp the opportunities from global trade as we leave the EU.”