A report published this month has highlighted just how vital exporting is in supporting quality jobs.
The assessment report on jobs, published from the Fraser of Allander Institute at the University of Strathclyde, found that 23% of all UK full-time jobs in 2016 were supported by exports.
Of those FTE jobs supported by exporting activity, 58% were directly related whilst 42% were involved in supply chains of exporting industries.
The report also found that manufacturing made up the bulk of export-related jobs. Trade with the US accounted for the largest number of supported jobs at 1.3 million, whilst EU export activity occupied 2.8 million FTE workers.
The release of this report coincided with new findings from the government’s Board of Trade report, finding that during 2016, exports supported 6.5 million jobs in the UK – paying on average 7% more than the national median wage.
Secretary of State for International Trade, Liz Truss, said in her foreword for the report that: “For the first time in almost 50 years, the UK is in control of its own trade policy and we have renewed this centuries-old institution (Board of Trade) to bring together leaders in business, academia and government.
“As a nation, we have not been in a position to steer our own trade debate for generations. Now we can and I believe the Board will play a crucial role in this vital discussion.”
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“We have a great story to tell as a trading nation, and now as we set out into our future as an independent country with the whole world as its marketplace, we will champion values-driven free trade as a force for good in the world and a driver of prosperity for every part of the United Kingdom.”