{"id":92730,"date":"2018-06-12T07:27:50","date_gmt":"2018-06-12T07:27:50","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=97613f1d27b8e2918f78c8863b5a5654"},"modified":"2018-06-12T07:27:50","modified_gmt":"2018-06-12T07:27:50","slug":"press-release-dr-fox-on-latest-trade-figures","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=92730","title":{"rendered":"Press release: Dr Fox on latest trade figures"},"content":{"rendered":"<div class=\"govspeak\">\n<p>According to the latest independent statistics, released by the <abbr title=\"Office for National Statistics\">ONS<\/abbr> on Monday, 11 June, UK exports rose 7.4% (\u00a343.3 billion) to \u00a3625.4 billion to the end of April 2018 compared to the same time last year.<\/p>\n<p>Exports continue to grow faster than imports for the tenth month continuously with the overall trade deficit narrowing by \u00a36.7 billion from \u00a337.5 billion to \u00a330.8 billion.<\/p>\n<p>The country\u2019s renowned service sector continues to thrive with exports up 7.5% to \u00a3282.6 billion, increasing the service surplus to \u00a3108.7 billion.<\/p>\n<p>Goods exports also rose strongly by 7.4% to \u00a3342.8 billion.<\/p>\n<p>International Trade Secretary Dr Liam Fox MP said:<\/p>\n<blockquote>\n<p class=\"last-child\">Far from the gloom some people report, today\u2019s trade figures show in the year to April 2018 the trade deficit narrowed by \u00a36.7 billion as overall exports rose by 7%.<\/p>\n<\/blockquote>\n<blockquote>\n<p class=\"last-child\">If we look on a stable longer term basis, the growth was driven by both the UK\u2019s renowned service sector which saw exports rising by 7.5% to \u00a3283 billion and UK goods exports which grew by 7.4%.<\/p>\n<\/blockquote>\n<blockquote>\n<p class=\"last-child\">For the first time as a dedicated trade department, we\u2019re able to provide comprehensive support to British exporters \u2013 helping make sure they meet the global demand for our top-of-the-range high quality goods and services.<\/p>\n<\/blockquote>\n<p>The figures follow separate analysis released by <abbr title=\"Her Majesty's Revenue &amp; Customs\">HMRC<\/abbr> (7 June) which found the number of VAT-registered businesses exporting goods in England, Scotland, Wales and Northern Ireland is at 109,000 \u2013 a rise of 4.1% from the previous year.<\/p>\n<p>The figures also reveal:<\/p>\n<ul>\n<li>exports of goods from England increased by 6.5% to \u00a3244.6 billion<\/li>\n<li>in Scotland, goods exports increased by 12.1% to \u00a328.8 billion<\/li>\n<li>in Wales, goods exports increased by 7.1% to \u00a316.4 billion<\/li>\n<li>in Northern Ireland, goods exports increased by 4.9% to \u00a38.5 billion<\/li>\n<\/ul>\n<p>In the first months of 2018, the average value of goods exported per exporter was \u00a3750,000.<\/p>\n<p>Businesses were also taking advantage of global interest as the number exporting to non-EU countries rose to over 47,000. The most popular non-EU destinations include the USA, that 19.2% of exporters sold goods to, Australia (7.3%) and Switzerland (7.2%).<\/p>\n<h2 id=\"further-information\">Further information:<\/h2>\n<ul>\n<li><a rel=\"external\" href=\"https:\/\/www.ons.gov.uk\/economy\/nationalaccounts\/balanceofpayments\/bulletins\/uktrade\/april2018\">View the latest <abbr title=\"Office for National Statistics\">ONS<\/abbr> statistics<\/a><\/li>\n<li><a rel=\"external\" href=\"https:\/\/www.uktradeinfo.com\/Statistics\/BuildYourOwnTables\/Pages\/Table.aspx\">View <abbr title=\"Her Majesty's Revenue &amp; Customs\">HMRC<\/abbr> trade in goods data<\/a><\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>International Trade Secretary, Dr Liam Fox praised the growth in UK trade as the latest figures show the trade deficit narrowing for the ninth month in a row.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/92730"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=92730"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/92730\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=92730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=92730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=92730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}