{"id":95490,"date":"2018-09-11T10:13:23","date_gmt":"2018-09-11T10:13:23","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=68dac91d4b6b6010d69cc2b4de073919"},"modified":"2018-09-11T10:13:23","modified_gmt":"2018-09-11T10:13:23","slug":"press-release-july-figures-show-uk-exports-remain-at-record-high","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=95490","title":{"rendered":"Press release: July figures show UK exports remain at record high"},"content":{"rendered":"<div class=\"govspeak\">\n<p>In data released by the Office for National Statistics (<abbr title=\"Office for National Statistics\">ONS<\/abbr>) on Monday 10 September, UK exports to the world rose by \u00a330.9 billion \u2013 an increase of 5.2% compared to the same time last year. Other main points from the release include:<\/p>\n<ul>\n<li>\n<p>The country\u2019s renowned service sector continues to thrive with exports up 3.9% to a record high of \u00a3283.4 billion, increasing the service surplus to \u00a3117.1 billion<\/p>\n<\/li>\n<li>\n<p>Goods exports also rose strongly by 6.2% to \u00a3345.9 billion<\/p>\n<\/li>\n<li>\n<p>On a rolling annual basis, annual exports continue to grow faster than imports for the twelfth consecutive month, with the overall trade deficit narrowing by \u00a313.8 billion in the year to July 2018<\/p>\n<\/li>\n<\/ul>\n<p>The news comes after the launch of the Export Strategy last month, which sets out a new ambition to increase exports as a proportion of UK <abbr title=\"gross domestic product\">GDP<\/abbr> to 35%, making the UK one of the G7\u2019s most successful exporters.<\/p>\n<p>International Trade Secretary Dr Liam Fox MP said:<\/p>\n<blockquote>\n<p>Today\u2019s trade figures show demand for UK goods and services is continuing to grow, as overall exports rose to<br \/>\n\u00a3629.3billion \u2013 up 5.2% on this time last year &#8211; and the trade deficit continued to narrow by \u00a313.8bn over the last 12 months.<\/p>\n<p class=\"last-child\">As we open consultations for future trade relationships with key markets around the world, we\u2019re seeing the UK  shift towards selling more than we buy, with exports increasing faster than imports. My international economic department will continue work with companies across the country to ensure they\u2019re making the most of global opportunities.<\/p>\n<\/blockquote>\n<p>Separate figures released by the <abbr title=\"Office for National Statistics\">ONS<\/abbr> in June showed UK exports of goods and services to non-EU countries amounted to around \u00a3344 billion in the 12 months ending March 2018, showing the worldwide demand for British goods and services remains. Exports to EU countries were around \u00a3276 billion in the same period.<\/p>\n<p>Overall, exports of goods and services to non-EU countries have nearly trebled since 2000 \u2013 exports of goods and services to EU countries by comparison have nearly doubled. The UK also operates a trade surplus of more than \u00a340 billion with non-EU countries, with this having been a deficit as recently as 2010.<\/p>\n<p>In 2017, 8 of the 10 fastest growing markets for UK exports since 2010 were outside of the EU (figures include only countries with more than \u00a31 billion in export value in 2017, and exclude Crown Dependencies and Gibraltar). Exports of services to the key non-EU markets of USA, China and Japan have all increased by more than 45% since 2010.<\/p>\n<p>The UK\u2019s current account deficit also narrowed to \u00a379 billion in 2017, down by \u00a324 billion from 12 months earlier. This is the narrowest deficit as a percentage of <abbr title=\"gross domestic product\">GDP<\/abbr> since 2012.<\/p>\n<h3 id=\"further-information\">Further information<\/h3>\n<p><a rel=\"external\" href=\"https:\/\/www.ons.gov.uk\/economy\/nationalaccounts\/balanceofpayments\/bulletins\/uktrade\/july2018\">View the latest <abbr title=\"Office for National Statistics\">ONS<\/abbr> statistics on UK trade<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Latest trade figures show demand for British goods and services is higher than ever, with exports at a record high of \u00a3629.3 billion in the year to July 2018.<\/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\/95490"}],"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=95490"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/95490\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=95490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=95490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=95490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}