Positive trading outlook ahead of key Brexit vote

The Government has today revealed that exports to both EU and non-EU countries have risen ahead of today’s monumental Brexit vote (12 March 2019).

The report, published by the Department for International Trade (DIT), suggests that the continued rise in British exports “highlights the true exporting power across all UK regions”.

The report comes as Parliament is due to vote on the Prime Minister’s Brexit deal, which will ultimately shape the future of the UK’s trading arrangements with EU and non-EU partners.

The most recent exporting figures, however, paint a positive picture whatever the outcome. According to the report, the number of VAT-registered businesses exporting goods across the UK has increased to 110,800 – an increase of 1,000 since this time last year.

Meanwhile, the number of businesses exporting to non-EU countries rose by 1.3 per cent in the last three months, to a total of 49,900.

The figures indicate that the most popular non-EU destination was the USA, where 20.2 per cent of exporters sold goods to, followed by Australia (7.7 per cent) and Switzerland (7.6 per cent).

The research also reveals that in the final three months of 2018, the average value of goods exported in the UK per exporter rose to £780,000.

Commenting on the figures, International Trade Secretary, Liam Fox said: “The continued rise in British exports across the country highlights the true exporting power across all UK regions. This is fantastic news for British businesses, who should be encouraged by these figures to take advantage of the clear opportunities available for growing their business overseas.

“People from across the world want to buy British, and through our Export Strategy my department is fully committed to helping businesses make the most of international opportunities.”

The Government has recently posted a series of articles urging businesses to prepare in the event that the UK leaves the EU without a deal. To find out what you need to do and for advice on trading after Brexit, please get in touch with our expert team. 

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