Bucking the trend
There is healthy demand for British goods in Europe – the UK’s biggest export market – and the world’s emerging markets, where a growing middle class hankers after Brand Britain.
Britain’s share of the world export market was tempered during the financial crisis, but there are signs that demand for UK services is on the up. Moving Britain to a more export-oriented economy will be a long play, but the rewards are plentiful. And while, generally speaking, exports of Britain’s services have performed better than exports of the nation’s goods, there are dynamic companies swimming upstream to challenge the world leaders.
Sector at a glance
- £42.7 billion – The value of British total exports in September 2015, a 1.3% increase from August
- 40% – The proportion of uk exports made up of Machinery and transport equipment
- 262% – The increase in UK car sales to Asia between 2009 and 2014