There’s good news for the country as the latest trade figures show demand for British goods and services is higher than ever with exports at record high of £620 billion in the year to May 2018.
In data released by the ONS in July, UK exports to the world rose by £30 billion – an increase of 5.2% compared to the same time last year.
The country’s renowned service sector continues to thrive with exports up 3.1% to a record high of £279 billion, increasing the service surplus to £111 billion.
Goods exports also rose strongly by 6.9% to £341 billion.
On an annual basis, exports continue to grow faster than imports for the tenth consecutive month with the overall trade deficit narrowing by £4 billion from £30 billion to £26 billion in the year to May 2018.
Image: London port / Pixabay
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