Overseas Trade

(asked on 25th November 2014) - View Source

Question

To ask the Secretary of State for Business, Innovation and Skills, with which 10 countries UK trade has increased the most in (a) percentage and (b) absolute terms in the last 12 months.


Answered by
Matt Hancock Portrait
Matt Hancock
This question was answered on 4th December 2014

The following tables show the largest increases in bilateral trade (exports + imports) in absolute value and percentage terms for goods.

It is often the case that the largest percentage increases are with the smallest trading partners because of the small value of trade with these countries. In order to not distort the percentage increase data in this way the tables only consider the UK's 50 largest trade in goods partners for 2013 and display the top 10 from those selected countries. Change in value of bilateral trade is measured between the 12 months ending September 2013 and the 12 months ending September 2014.

Trade in goods data has been used in this answer as it contains information on all trade partners whereas total trade data (goods and services) as published by ONS are not available for all trading partners.

A full list of trade values covering over 200 countries can be found on the HMRC Overseas Trade Statistics website (goods only): https://www.uktradeinfo.com/

Table 1 Bilateral trade in goods: (50 largest trading partners only)

Trading partners with largest percentage increase between 12 months

ending September 2013 and 12 months ending September 2014

Increase in value (£ million)

% increase

Egypt

401

25%

South Korea

1,642

23%

China

6,310

15%

Portugal

300

9%

Italy

1,955

8%

Austria

291

7%

Spain

1,210

6%

Slovakia

100

5%

Finland

156

4%

Germany

3,398

4%

Source: HMRC Overseas Trade Statistics

Table 2 Bilateral trade in goods: (50 largest trading partners only)

Trading partners with largest value of increase between 12 months

ending September 2013 and 12 months ending September 2014

Increase in value (£ million)

% increase

China

6,310

15%

Germany

3,398

4%

Italy

1,955

8%

South Korea

1,642

23%

Spain

1,210

6%

Irish Republic

444

2%

Egypt

401

25%

Portugal

300

9%

Austria

291

7%

Czech Republic

202

3%

Source: HMRC Overseas Trade Statistics

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