uk exports

UK Exports Hit Record Levels in 2018/2019

Is your business prepared to deal with the increasing competition for haulage experts dealing with UK exports? Learn more with Smart Directions.

According to the recent UK exports statistics released from the Office of National Statistics (ONS) on 10th May, UK firms have exceeded expectations by producing a record-breaking year in overseas sales for the 2018/2019 financial year.

It is important to note that when we say record breaking, we do in fact mean that the data unequivocally shows this was best financial year since records began, with overseas sales reaching a staggering £639.9 billion.

Secretary of State for International Trade, Dr Liam Fox, was quoted as saying “UK exports continue to grow and beat records across Europe, these new numbers published today (10th May) highlight the quality and innovation of British goods and services and how much they are valued across the globe.”

Given the data, it’s fair to say that Dr Liam Fox is incorrect. Compared to the previous financial year of 2017/2018, the total exports for 2018/2019 grew at a rate of 3.0% which ultimately equated to an impressive increase of £18.5 billion in real terms.

Interestingly, all of this has occurred despite a bearish outlook for the global economy as a whole. However, UK exports have been continuing to grow over the last 36 months on an annual rolling basis. Clearly, companies across the country have been undeterred in their growth strategies.

Foreign investment is on the rise too

Despite certain media speculation, foreign direct investment (FDI) into the UK is also on the rise too; again, at record levels. Data released Organisation for Economic Co-operation (OECD) in the week previous to 10th May showed that UK inwards investment stock had also increased significantly by 5% to £1,400 billion. This confirms that although the UK is marred with the potential negative effects of Brexit, it remains the leading country for FDI in Europe and the third highest in the world.

So, what does this all mean for UK businesses and British exports as a whole?

With UK exports and the general economic outlook looking to continue in an upward trend, businesses involved in exports must ensure that their logistical operations are capable to handle an increase in demand.

This is even more important given the impending reality of Brexit and the continued potential for a ‘no deal’ situation come 31st October 2019.

Thankfully, at Smart Directions we plan far ahead to ensure our customers never experience disruption to their crucial logistical operations. This way, we stay on top of economic and regulatory complications whenever they may arise, both domestically here in the UK and internationally as well.

We offer a wide range of dependable and affordable logistics services, such as Express Worldwide, UK Overnight Parcel Delivery, Sea Freight, European Express Van and Customs & Special Services to name but a few.

No matter how complex your logistical requirements may be, our team will work diligently around the clock to ensure your export and import demands are dependably met whenever required.

If you’d like to learn more about how we can help you tackle the coming months or years for your import and export requirements, please don’t hesitate to contact our team today or you can request a quote.

Leave a Reply

Your email address will not be published.