Member Article

Top UK trading partners will remain fixture

There will be little change in the UK’s trading partners over the next 17 years, according to the HSBC Commercial Banking Trade Forecast.

Germany, USA, France, Ireland and China will remain top export destination according to the Forecast, while the fastest growing trade partners will be in emerging markets.

Maturing consumer demand in many developing countries looks set to alter global trade growth dynamics.

HSBC’s research points to resulting opportunities in specialised sectors such as industrial machinery, transport equipment, chemicals and pharmaceutical.

Peter McIntyre, HSBC’s Head of UK Trade, said: “Emerging markets are developing at a phenomenal pace and are set to reshape world trade patterns over the next 20 years. By expanding their operations into new, higher value sectors, they are driving more developed nations to specialise and diversify to compete.

“Working with these countries could be critical for UK businesses who want to remain competitive in the future and could help support the future of the UK economy.”

It is expected that industrial machinery will extend its dominance as the world’s top export sector, encompassing around 25% of goods exported among the top 25 trading nations by 2030.

This was posted in Bdaily's Members' News section by Tom Keighley .