UK exports still showing growth, data shows

Imports and Exports | | MIC Customs Solutions |

UK exports went up in June, according to new figures.

New data from the Office for National Statistics' Balance of Payments has shown that exports from the UK are continuing to rise.

According to the Department for International Trade, exports increased by 6.4 per cent in the 12 months to June 2018, compared to the same period last year.

When looked at separately, goods exports grew by 6.6 per cent, fuelled by demand for British manufacturing, while services were boosted by 6.2 per cent, thanks in part to the financial services industry.

It was also revealed that the trade deficit decreased by £14.4 billion (€16.2 billion) over the past year.

Interestingly, countries outside the EU were a stronger market for UK exports than those inside, suggesting strong partnerships will still exist after Brexit takes effect on March 29th 2019.

Dr Liam Fox, international trade secretary, said: "As we leave the EU, we look to further our trading ties with key overseas markets such as the USA, Japan and China."

It comes after the Department for Trade in Britain recently launched a new Export Strategy, designed to help businesses of all sizes make the most of global trade opportunities and open up new markets for their products.