British exports soar post-Brexit

Demand for British merchandise worldwide rose by 11.3% in the first full year considering that the EU referendum, based on figures with the Office for National Statistics (ONS).

Figures for the import and export of items prove that have business dealings with non-EU countries grew by 11.6% C faster than with the EU at 10.9%.

Exports from UK companies in 2017 rose to 617 billion, while using the UK’s renowned service sector continuing to thrive, driving service exports up 8.7% to 274 billion.

Goods exports also rose strongly by 13.4% to 342 billion. Most popular including cars and mechanical and electrical machinery are sure to market in countries such as USA, China, and Germany.

Exports keep growing faster than imports, narrowing the trade deficit by 7 billion over the last year.

International Trade Secretary, Dr Liam Fox, said: “In the main 12 months as soon as the EU referendum, interest on British products and services is on top of ever with exports rising by 62.5 billion additionally, the trade deficit narrowing.

“As I meet my counterparts around the world, one thing always shines: the UK’s good reputation producing trusted, superior quality products.

“These new figures undoubtedly are a proof of tough work of companies up and down the nation. As being an international economic department, we are going to continue to develop this success by helping more firms export through our Exporting is extremely good campaign and global network in excess of 1700 trade advisers.”

In an extra boost, ONS statistics also released the other day show manufacturing output reached its highest level since February 2008.

The figures were welcomed by leading industry bodies, demonstrating how Britain’s trading presence is growing when the country prepares to go away the EU and forge each of our free trade agreements.

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