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Record-breaking year for UK exports
New statistics from HMRC reveal overseas demand for British goods is increasing in every UK nation and show no sign of slowing down, as latest data shows each nation has broken its record for goods exports.
In the 12 months to Q2 2019, goods exports in England grew by 2.7% to £252bn, Scotland grew by 14.5% to £34bn, Wales grew by 6.8% to £17.7bn, and 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 USA 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.
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 today’s 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.”
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.
The new online market access service (great.gov.uk) will make it easier for British businesses to trade globally, opening new markets for UK goods and services and allow British businesses to report issues preventing them from trading around the world. These barriers include unnecessary, legal, regulatory or administrative requirements. This includes labelling restrictions, out-of-date regulations and licensing requirements.