Exports from the UK are at an all time high, with lots of businesses getting involved and achieving international success. With so much scope and so many opportunities available, your business could easily go global with support from us.
The stats so far…
The UK’s overall exports in 2017 came up to £622.1 billion – a record-breaking high. Figures have grown 12.1% since 2016 and a whopping 39.6% since 2010, showing that exporting is bringing in even more cash for businesses around the country.
Whether you’re exporting goods or services, there’s a market for your business somewhere across the globe and there are countries in need of your products. Let’s break it down and see what the best routes to exporting are. We’ll look at the sectors which currently have the most potential for growth.
Exports of goods
Goods exports accounted for over half of total exports across the UK in 2017 – 55.1% to be exact. That’s a 13.4% increase from 2016 and a figure of £342.5 billion overall. But which countries bring in the highest profits?
– goods exports to EU countries in 2017 were £167.2 billion which is 48.8% of all goods exports and an increase of 15% from 2016
– goods exports to non-EU countries in 2017 were £175.2 billion, making up the the rest of the 51.2% of goods exports for the year – an 11.9% increase from 2016
Exports of services
Services exports in 2017 accounted for 45% of total exports for the year, showing an increase of 10.7% from 2016. That means overall, services exports brought in a hefty £279.6 billion within the year.
How do EU and non-EU exports compare?
– services exports to EU countries in 2017 totalled were up to £108.2 billion, which is 38.7% of all services exports and an increase of 13.6% from 2016
– services exports to non-EU countries came up to £171.4 billion in 2017, accounting for 61.3% of all services exports that year and an 8.9% rise from 2016
There are lots of goods and services that are needed around the world, but here are a few that are bringing in the big bucks for UK businesses like yours:
Top 5 UK goods exports in 2017
Mechanical machinery – £48.5 billion
Cars (automotive) – £32.7 billion
Electrical machinery – £27.7 billion
Medicinal and Pharmaceutical products – £26.3 billion
Crude oil – £20 billion
Top 5 services exports in 2017
Other business – £85.6 billion
Financial – £64.7 billion
Travel – £34.1 billion
Transport – £29.4 billion
Telecommunication, computer and information – £21.9 billion
Now you’ve seen just how much the export market has grown, why not join in? We offer ongoing support, free training seminars and advice to help your business achieve international success.
To get started, contact us at firstname.lastname@example.org or chat to us on 0345 222 0159.
Source: Department for International Trade Core Statistics Book, figures correct as of 06/05/2018