There has always been strong demand from other nations for British goods and services, with exporting one of the main drivers behind the UK’s economic growth.
British economists were heartened to hear that UK exports had reached record levels in the second quarter of 2013 – making a big contribution to the UK’s ongoing economic recovery.
Companies that sell goods and services abroad made £78.4 billion between April and June – the highest quarterly total since records began in 1998. The Office for National Statistics attributed that growth to a boost in exports to markets outside of the EU, particularly the US and China.
Sector at a glance
- £1.2 billion – The amount made from exporting British TV shows around the world
- 62% rise in defence exports to £8.8 billion – the biggest increase for five years
- £6.3 billion – South Korea is making the single biggest contribution to UK export growth