Management Today have published the UK’s fastest growing exports, as the UK recovers and UK businesses are looking for more channels and more markets to sell into. This could be the definitive guide of where the best markets are to approach, depending on what industry you are in.
Clothing exports rose almost 16% to £5.2bn in 2013, according to number crunching of ONS stats by Santander UK, while car exports revved up 13% over the year to £24.7bn. Meanwhile, shipments of the rather interestingly categorised toilet and cleansing preparations climbed 9.5% to £5.3bn.
A few industries dominate our exports, though. Machinery (mechanical and electrical), cars and pharmaceuticals accounted for 37% of the total in 2013, with a combined value of £113bn. With oil they made up half of the country’s exports.
Total export growth was rather more sluggish, though, creeping up 2.3% in 2013. That’s got to speed up if the government wants to have any chance of hitting yearly exports of £1tn by 2020.