Department for International Trade
ONS trade statistics: Exports rise by £14 billion
New figures show continued export growth, totalling £630 billion in the year to November 2018.
New figures released recently (11 January 2019) by the Office for National Statistics (ONS) revealed exports (goods and services) in the year to November 2018 were worth £630 billion, growing by £13.9 billion since the previous year.
There has now been 32 consecutive months of export growth on a 12-month rolling basis.
As the UK considers future Free Trade Agreements with the likes of the USA, Australia, New Zealand and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), goods exports to these countries continued to boom:
- USA: up 6.9% to £54.9 billion
- Australia: up 2.9% to £5.1 billion
- New Zealand: up 3.8% to £869 million
- CPTPP: up 4.2% to £28.4 billion
With other notable goods exports growth to non-EU markets including Nigeria (up 29.2%), India (up 27.3%), and Thailand (up 18.5%).
The news comes as London retained its position as the top tech investment destination in Europe earlier this week. According to Pitchbook and London & Partners, the capital received £1.8 billion tech investment in 2018, more than Berlin and Paris combined.
International Trade Secretary, Dr Liam Fox, recently said:
Today’s statistics once again show UK businesses are exporting with more confidence than ever before, as total exports rise to a record high of £630 billion. As my colleagues and I have witnessed on ministerial visits up and down the country, businesses are simply keen to continue meeting demand for their produce from all corners of the world.
As we start the new year, I encourage all businesses to mark 2019 as a year for overseas expansion. Whether you are a small business seeking help to sell abroad for the first time, or an established exporter looking to break into new markets, my international economic department stands ready to offer its full support.
Last August, the Department for International Trade launched its ambitious new Export Strategy, seeking to move exports as a percentage of GDP from 30% to 35%.
The strategy set out a range of support which will help businesses make the most of significant export opportunities around the world.
Notes to editors:
- All export figures refer to the 12 months to November 2018.
- Figures from the ONS UK Trade November 2018
Latest News from
Department for International Trade
UK and Azerbaijan commit to fresh partnership on renewable energy24/05/2019 16:05:00
The UK and Azerbaijan have committed to renew combined efforts to tackle challenges facing the energy sector.
App sees rise in fitness and increase in exports23/05/2019 13:10:00
Nottingham-based body composition software and hardware designer Boditrax increases exports with rising demand abroad.
Northamptonshire business boosting health abroad23/05/2019 08:10:00
International Business Manager at Viridian Nutrition Sally Ann Marsh has been recognised as a Midlands Export Champion by the Department for International Trade.
Export milestone for espresso machine manufacturer22/05/2019 13:10:00
Espresso coffee machine manufacturer Fracino to further increase exports after securing new certification.
Secretary of State address to City Week21/05/2019 15:10:00
Secretary of State Liam Fox yesterday spoke to London's strength and resilience during his speech at City Week.
Welsh company receives Board of Trade Award for exporting success17/05/2019 15:05:00
The International Trade Secretary awards Cardiff-based technology company Sure Chill with a Board of Trade Award (BOFTA).
UK signs trade continuity agreement with Colombia, Ecuador and Peru16/05/2019 12:10:00
The United Kingdom yesterday signed the UK-Andean Countries Trade Agreement.
Dr Liam Fox: Institute for Government speech15/05/2019 17:14:00
As-delivered transcript of the International Trade Secretary's speech to the Institute for Government on Wednesday 15 May 2019.