New research has uncovered small and medium-sized businesses trading internationally have grown at almost twice the rate as small firms selling within local markets. The study, carried out by the government’s export credit agency, UK Export Finance, found that firms trading domestically experienced an 8.4% growth rate over the last five years, compared to 15.2%
The ongoing trade war between the USA and China has seen imports into the US from China drop by 13% so far in 2019. Tariffs were the primary cause of the decline on imports from China, with Vietnam proving to be the biggest benefactor with exports to the States increasing nearly 35%, primarily in the
UK manufacturers are feeling the effects of a prolonged Brexit process as sales and orders drop into the negative, despite growth in the number of individual firms selling overseas. The British Chamber’s Quarterly International Trade Survey for Q3 2019 found that the percentage balance of manufacturers exporting internationally reporting order increases dropped from 9% to
The number of manufacturing companies in the UK who are exporting goods has increased to the highest levels in over a decade. Despite global trade difficulties, including within the EU, the Lloyds Bank UK International Trade Index has reported that over 81% of manufacturers exported goods in Q3 this year, up on Q2. That includes
The December election campaign is well underway in the UK with the two main parties set to pitch their financial agendas for the country today. Triggered and still dominated by Brexit, the campaigns will also focus on some of the big areas that have had little discussion time in the last three and a half
“Brexit has had more dates in the last year than I have” has been a popular quip on Twitter today following the EU’s announcement that member states have agreed to a new extension period. The UK now has a deadline of 31st January to agree to a deal in Parliament. Just to add further intrigue,
New data from the Office for National Statistics has highlighted increased demand for British goods outside of the EU in the run-up to October 31st, predominantly with the US and China. Trade with non-EU countries is currently growing twice as fast as with EU member states, with data showing a 4.2% increase in exports to
The cost of additional red tape and paperwork at the border in the event of a no-deal Brexit could reach as much as £15bn according to a new Government paper. Filling in customs forms for trade between the UK and European Union would be just the tip of an iceberg of a ‘significant new and
The slump affecting the German manufacturing sector has continued this year with new figures from Destatis revealing a 6.7% year-on-year sales drop compared to August 2018, marking nearly two years of continuous decline. Factory orders dropped 0.6% compared to July, twice the shrinkage predicted by economists, albeit an improved performance on the previous month’s 2.1%
A drop in business investments since the EU referendum three years ago has cost the UK economy £20bn, according to new research. Findings published in the National Bureau of Economic Research has found that Brexit has resulted in a 11% drop in investment whilst also claiming that productivity has taken a 5% hit as a