Member Article

Exports among London businesses up 12% during 2015

Latest HMRC statistics reveal that the total value of exports in London grew to £32.5 billion during 2015, the equivalent of a 12% increase from £28.7 during 2014. The statistics show that:

• The value of the capital’s exporting business grew by 12% last year – the highest increase of any region in the UK apart from the South East
• London businesses looking to global markets to expand – exports increased to Asia by 32% and North America by 18%
• Growth across a broad range of sectors including mineral fuels and manufactured goods

The boost was driven by sales growth to Asia (32%), Western Europe (26%), North America (18%), Latin America and Caribbean (16%), Eastern Europe (8%) and the EU (3.5%).

The US was London’s biggest trading partner in 2015, closely followed by Switzerland, Hong Kong, Germany and France.

The statistics come on the back of the launch of Exporting is GREAT, the Government’s campaign which aims to inspire and support 100,000 additional UK exporters to sell their goods and services overseas by 2020 which was launched in November 2015.

Parveen Thornhill, UKTI Regional Director for London, said:

“There are even more London companies that have the potential to export. Whether big or small, producing goods or services, UKTI is ready to help find export opportunities today.

“Overseas buyers and consumers look to the UK for our creativity and innovation. Now is the time for businesses across the capital to explore their export potential and prepare to meet this increasing demand.”

Andy Moffat, Director of craft brewery Redemption London, added:

“Exporting is a way for us to capitalise on the brand value of London and widen our geographical sales reach.

“Going global with our craft beer has helped us diversify our customer base and find opportunities outside our core markets. Export growth is an increasingly important part of our business.”

This was posted in Bdaily's Members' News section by UKTI London .