The UK Office for National Statistics (ONS) presented that UK firms sold more overseas in the 2018/19 financial year than at any time since records began, reaching the £639.9 billion. The overall exports increased by 3%, increasing by £18.5 billion compared to the 2017/18 financial year.
Although there is a climate of uncertainty, UK exports have been increasing for the past 36 consecutive months on an annual basis, reflecting the unparalleled spirit and resilience of UK exporters up and down the UK.
The table above shows the change to trade in goods, services and total trade balances, along with exports and imports in the three months to March 2019 compared with the three months to December 2018.
The total trade deficit widened by a record £8.9 billion to a record £18.3 billion in the three months to March 2019, due largely to a £6.4 billion widening in the trade in goods deficit to a record £43.3 billion. Goods exports increased £2.5 billion to £91.4 billion while imports increased £8.9 billion to £134.8 billion.
The trade in services surplus narrowed by £2.5 billion to £25.0 billion in the three months to March 2019; exports of services fell by £3.9 billion to £69.7 billion, while imports fell less, by £1.4 billion to £44.7 billion.
Secretary of State for International Trade, Dr Liam Fox commented
UK exports continue to grow and beat records across Europe, these new numbers published today highlight the quality and innovation of British goods and services and how much they are valued across the globe.
For more information, you may click on the PDF herebelow
