Export Growth Slowed in October

Posted on: 11/12/2018

UK exports of goods grew more slowly in October, despite strong growth in Asia and Western Europe.

The value of exports over the ten months was £306 billion, an increase of just under eight percent on the previous year. By thiis was less than half the rate of growth seen in the same period of 2017.

Exports to the EU grew by 5% to £142 billion. Exports to the rest tof the world grew by 10% to £163 billion. 

The figures were flattered by a large growth in sales of an erratic item, non-monetary gold, the value of these exports more than doubled from £10.2 billion to £22.6 billion, with China, Turkey and Switzerland being the main markets. When the value of these exports is excluded from the figures, growth in non EU exports falls to just over two percent.

 

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