Aircraft and art underpin boost to exports

airbus300August continued to be the bearer of good tidings for UK manufacturing as new official trade data from the Office for National Statistics (ONS) showed that in June, the exports of goods to countries outside of the EU increased by £1.3 billion to £14.2 billion. £1.1 billion was attributed to the export of finished manufactures, specifically aircraft and works of art. Trade in goods with countries within the EU was relatively unchanged over the same period.

The deficit on trade in goods reduced from £26.5 billion in the first quarter of the year to £24.9 billion in the second. Exports of goods in the second quarter of 2013 reached £78.4 billion, the highest on record although mports also increased to their highest level since the three months to November 2011.

Commenting on the news, senior EEF economist Rachel Pettigrew said the data, while prone to volatility, was a further sign  of upward momentum.

She continued: “While exports to Europe have remained stable, exports grew to their highest level this month on the back of strength in sales to non-EU countries, with exports to countries beyond Europe exceeding £40 billion for the first time. This positive trade data supports our view that the manufacturing sector will gain momentum and will be a source of growth for the UK economy over the coming years.”

While the EU remains Britain’s largest single export destination, exports to non-EU countries since 2009 have grown by 49% and now exceed those to the EU.

This material is protected by copyright Ken Hurst 2013.

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About Ken Hurst

Ken Hurst began his career as a journalist in London over 30 years ago, working on a range of publications before moving on to weekly newspaper production in the newly-independent Zambia of the 1970s. He returned to the UK where his work included spells on newspapers and magazines, before moving to head up Norwich Union’s corporate affairs division. In the 1990s he moved on to freelance, co-own and publish the B2B audio magazine Sound and front the BBC radio Yesterday’s Papers programme. There followed six years as Business Editor at Britain’s biggest selling regional daily newspaper, The Eastern Daily Press, where he led an award-winning team and for whom he still writes a weekly socio/political comment column. Subsequently, he was Group Editorial Director at CBM, responsible for its UK and US magazine output – including The Manufacturer magazine – research-driven industry reports and live events content. Currently he is Contributing Editor at Works Management magazine publisher Findlay Media and Chairman of the consumer publishing house TNT Multimedia Ltd. He is a Fellow of the Royal Society of Arts and of the British Association of Communicators in Business.
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