Her Majesty’s Revenue and Customs (HMRC) reveal overseas demand for British goods is increasing in every UK nation.
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.
Each UK nation experienced growth in goods exports in the 12 months to Q2 2019.
Goods exports have now grown for 4 consecutive years in every UK nation.
Scotland was the fastest growing region, with exports growing by 14.5% over the past year.
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
Scotland grew by 14.5% to £34.0bn
Wales grew by 6.8% to £17.7bn
Northern Ireland grew by 6.8% to £9.1bn
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 launched this week, will make it easier for British businesses to trade globally, opening new markets for UK goods and services.
The online service will 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 This includes labelling restrictions, out-of-date regulations and licensing requirements.
The tool will ensure British businesses can flag these issues and the government’s trade experts can work with countries around the world to resolve them, opening new markets globally.
