New data from the Office of National Statistics has found that the UK’s trade deficit has increased at a record rate. The latest figures from the ONS show a fall in the value of imported and exported goods, creating a quarterly trade deficit of £27.9bn – up £2bn on the previous period. This marks the
HMRC has warned UK firms yet to begin using the new Customs Declaration System that they may soon be unable to import products into the country. Over 3,500 firms risk significant delays if they don’t move to the new service within the next two months and are being warned that registration and adoption aren’t instantaneous
The UK and the Gulf Cooperation Council have kicked off the first round of trade talks in Riyadh in a deal that could cover more than £33bn in annual trade. The GCC, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, would be equivalent to the UK’s seventh-largest export market, with demand for
The government has promised a ‘bonfire’ of the current barriers to international trade for exporting business in the UK. International trade secretary, Anne-Marie Trevelyan made the announcement as part of a new drive to reduce red tape and barriers to exports around the world – estimated to be worth £20bn in economic benefit for British
Trade woes for UK businesses in the face of Brexit are continuing into 2022 as exports to the EU fall to their lowest level since 2011. Data newly released from Eurostat shows how EU imports from the UK fell by 16.4% over a two-year period. In start contrast, imports by the EU from non-EU countries
UK businesses are continuing to struggle with post-Brexit trading rules as export bosses warn that life outside the EU is becoming a ‘nightmare’ as fears grow that the Northern Ireland protocol could lead to a trade war with Brussels. Exporting firms have warned that costs and red tape have seen doing business with the EU
Exports of food and drink products by UK exporters have risen above pre-pandemic levels. Data from the Food and Drink Federation found that exports to non-EU countries rose 16.2% in the first three months of the year, almost 11% higher than in Q1 2019. Total non-EU exports of food and drink are now worth a
Competition for search engine rankings has never been tougher, and even trying to get noticed in your home country can be a challenge. But what if your target audiences are in various territories? International digital marketing is becoming an increasingly sought-after requirement for businesses new and established as globalisation and online shopping has made it
The UK is close to signing mini trade deals with six individual US states. Speaking in an interview with Bloomberg, UK trade secretary Anne-Marie Trevelyan revealed the likely deals were memorandums of understanding covering areas including mutual recognition of professional qualifications and improved access to procurement contracts. Some of the states in question include Indiana
With the latest set of data showing the UK’s trade deficit has widened in March, experts are warning that local exporters shouldn’t be taken for granted as international trade networks come under strain. The number of exporting firms in the UK dropped by 3% in March, with the number of employees working in export-related jobs