News: UK exports on the rise, UK-China trade links

News in brief
News in brief

UK businesses exporting on the rise

The number of businesses in Wales that export goods and/or services internationally grew by 32% across the three-year period between 2012 and 2014 to 4,900 firms.

This was the largest growth across any region in Great Britain (GB), according to analysis by Santander Corporate and Commercial of the most recent goods and services regional export data from the Office of National Statistics.

These figures across the rest of the UK were: 21% growth in Yorkshire and Humberside (to 13,900 businesses), 17% growth in Scotland (11,100), 12% in the East Midlands (14,900) and 11% in the North West (17,100). The North East showed the largest decline, down 8% to 3,500 businesses.

Overall, the number of UK businesses that export goods and/or services rose by 5% over the three-year period to 221,300 firms in total. As at the end of 2014, a quarter (25%) of all firms that export goods and/or services were in London (56,400), with a further 19% (40,700) in the South East, and 12% in the East of England (24,200).

UK and China strengthen trade links

Business Secretary Sajid Javid has overseen the signing of commercial UK-China contracts in Birmingham with the Chinese Minister of Commerce Gao Hucheng as part of the UK-China 12th Joint Economic and Trade Commission (JETC) to boost cooperation and understanding between the 2 countries.

The UK attracts up to a third of all Chinese investment into Europe over the past 2 years and the Business Secretary will use the visit to highlight the investment opportunity in the Midlands.

Business Secretary Sajid Javid said: “The visit by Chinese Minister of Commerce Gao Hucheng to Birmingham was a great opportunity to showcase the Midlands as an engine for growth and investment. The UK is the leading destination for Chinese businesses bringing economic and jobs benefits not only to the Midlands but to the UK as a whole.”