The fastest growing export market for the UK since 2010
was Oman, with exports increasing by 354% to £3
billion. This was followed by Macedonia (FYROM) with UK
trade growing by 318% to £1 billion and then Kazakhstan
which was up by 210% to £2 billion.
International Trade Secretary, MP said:
British goods remain in global demand as exports to
non-EU countries continue to grow in markets such as
Oman. It shows the confidence the world has in our
goods and is important as 90% of global trade will
come from outside EU.
As an international economic department, we have a
dynamic and experienced team who will negotiate free
trade deals and make a success of Brexit. We’re also
supporting UK businesses in exporting more and
talking to international businesses on why we should
be the top destination for investment through our
GREAT campaign.
Today’s figures also reveal in 2017:
- overall exports of goods rose by 13% to £339
billion
- overall exports of services rose by 7% to £277
billion
- the USA remains the UK’s top export market, buying
over £112 billion worth of goods and services in 2017,
an increase of 8% since 2016
The news is promising as separate ONS figures
show that UK exports overall rose by 5% in the year to
end May 2018. Our world-leading services sector
recorded a trade surplus of £111 billion in the same
period, with services exports totalling £279 billion in
the year to May 2018.
The UK also attracted more than 2,000 foreign direct
investment projects in financial year 2017 to 2018.
