UK Exports to EU continue to grow

Posted on: 13/05/2019

UK exports grew by 3.74% in the 1st quarter of 2019. Exports to the EU grew by 7.61%, while exports to the rest of the world were virtually stagnant, shrinking by 0.01%. 

For the third month in a row, exports to the EU represented more than half of total UK exports. It is widely thought that exports to the EU are enjoying a boost because of companies stokpiling i preparation of a possible no deal Brexit. 

Exports to Eastern Europe were by far the fastest growing region, showing a massibe 45% increase on the same period of 2018. Exports to North America grew by 7.5% and to Asia by 6.5%. A dramatic fall fo 44% in exports to non EU countries in Western Europe was mostly accounted for by sharply falling exports of gold to Turkey and Switzerland.

Exports to Latin America grew by 22% over the quarter, following declines in recent years. Exports to the Middle East continued their recent declline, falling by just over 1%.

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