The Office of National Statistics (ONS) released data confirming demand for UK goods and services is growing across the globe, with exports to India increasing at the fastest rate amongst the UK’s top non-EU trading partners.
The data showed exports of goods and services to non-EU trading partners in 2018 reached an all-time high of £345.1 billion, representing the rising appetite for British produce outside of the EU.
It is important to note that the UK’s top three non-EU trading partners: USA, China and Switzerland have increased their share of UK exports by 4.1 per cent from last year. Although on the other hand, the share of UK exports to the EU has reduced considerably by 4.2 per cent.
According to figures from Eurostat, the UK is one of only two EU member states to export more goods to non-EU countries within the EU in 2018, showing the UK’s growing popularity in markets outside the EU.
Secretary of State for International Trade, Dr Liam Fox, said: “Even with an increasingly challenging global economic outlook, these latest figures show demand for UK exports across the globe continues to grow and there is a clear appetite for British products all around the world. Now more than ever is the time for UK businesses to be exploring opportunities overseas.
“My international economic department is focused on growing exports and boosting the UK economy through our Export Strategy, and putting the UK at the heart of the world’s fastest growing markets through an independent trade policy.”
At Macalvins, our international business team are able to support British businesses who are either already trading abroad or are considering expanding into international markets.
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