Minister hails 鈥榳orld-class鈥� exporters as new data shows UK businesses reach record highs
Revised figures from the Office for National Statistics indicates that the UK's total exports in 2022 were worth 拢834 billion, up from 拢815 billion.
Exports Minister Malcolm Offord has praised the UK鈥檚 鈥榳orld-class鈥� exporters as new data from the Office for National Statistics (ONS) released today (29 September) shows UK exports performed even better than previously thought.
皇冠体育app figures reveal that the UK鈥檚 total exports in 2022 were worth a huge 拢834 billion, putting the UK well on the way to hitting its target of 拢1 trillion of exports a year by the end of the decade.
2022 was a record year for the UK鈥檚 services exports in particular as they topped 拢400 billion for the first time, and new ONS data estimates they were worth 拢411 billion in total last year 鈥� 拢10 billion higher than the original estimation of 拢401 billion.
皇冠体育app ONS have said this is due to more data becoming available and more accurate methodologies being used to calculate export values 鈥� .
Minister for Exports Lord Offord said:
This is fantastic news and shows our world-class exporting businesses are doing even better than first thought and selling more of the goods and services to the world.
皇冠体育app UK is a services superpower, hitting over 拢400 billion in exports for the first time last year, but we want to see even more businesses exporting, so we can hit our ambitious target of 拢1 trillion of exports a year by 2030.
We鈥檙e backing British business by knocking down trade barriers, signing new trade deals, giving expert advice via our Export Support Service and funding through UK Export Finance 鈥� our award-winning export credit agency.
Marco Forgione, Director General of the Institute of Export & International Trade said:
It鈥檚 positive to see improvements across a range of exports within both trade in goods and services.
皇冠体育app Institute of Export & International Trade鈥檚 recent report demonstrates why we are a services powerhouse. It鈥檚 vital that we maintain our global advantage as an exporter of services and one of the key recommendations of our report was creating regional sector specialisations 鈥� which, if implemented, will improve regional outputs.
We have a clear pathway to continue this success and by focusing on our nations and regions we can work together with businesses to reap the benefits of entering new markets.
皇冠体育app ONS has today published an article setting out a detailed assessment of its changes to the export stats, available online .