Figures released today show the export of goods and
services to non-EU trading partners in 2018 reached a
high of £345.1bn, demonstrating the growing appetite
for British produce outside of the EU.
The latest figures show an increase in the share of
exports going to the UK’s top 3 non-EU trading
partners, USA, China and Switzerland, increasing from
21.3% in 2000 to 25.4% in 2018. Contrastingly, the
share of UK exports to the EU has decreased
significantly from 54% to 45.6% over the same period.
Eurostat data also shows the UK was one of only two EU
member states to export more goods to non-EU countries
than within the EU in 2018, demonstrating the UK’s
increasing popularity in markets beyond the union.
Secretary of State for International Trade, , said:
Even with an increasingly challenging global economic
outlook, these latest figures show demand for UK
exports across the globe continues to grow and there
is clear appetite for British products all around the
world. Now more than ever is the time for UK
businesses to be exploring opportunities overseas.
My international economic department is focused on
growing exports and boosting the UK economy through
our Export Strategy, and putting the UK at the heart
of the world’s fastest growing markets through an
independent trade policy.
The USA remains the UK’s top destination for exports,
increasing by 3.9% to 118.2bn in 2018.
Latest data also highlights the attractiveness of the
UK as a destination for foreign investment as inwards
stock has increased by 12.6% to a record high of
£1,336.5bn in 2017. The USA is the UK’s top investor,
with investment stock increasing by 19.5% to 351bn.
There has been a growing demand from Asian investors in
the UK, with inwards investment stock increasing by
201% since 2008, the highest growth rate of any
continent. Furthermore, the share of inwards stock from
Asia has increased from 6.8% to 9.6% between 2008 and
2017.
Notes to Editor
- Partner country data comes from ONS UK Economic
Accounts 2018 Q4
- Eurostat data comes from Intra-EU Trade in Goods –
Recent Trends
- Foreign direct investment data comes from ONS
Foreign Direct Investment Involving UK Companies: 2017
- Top 3 non-EU trading partners in 2018 were the USA,
China and Switzerland
