The UK International Trade Index
Read time : 30 mins Added: 24/01/2020
The Lloyds Bank UK International Trade Index, written in partnership with IHS Markit, sheds light on international trade conditions to help British businesses trade internationally and navigate export markets.
This latest edition, reflecting activity in the fourth quarter of 2019, brings together key export growth and supply chain data to provide insights into the challenges and opportunities for exporters.
Key findings from the January edition include:
- The market for UK exports remained in growth as economic conditions in the US and China rebounded in Q4 to offset slowing growth in Europe, particularly Germany and the Netherlands.
- Our analysis of HMRC trade data confirms this trend as goods exports to the EU fell in both Q2 and Q3 of 2019 while exports to Asia have grown rapidly over the last three years.
- The UK's luxury and sporting goods exports have shown considerable strength, boosting the Consumer Goods sector, however the Automotive sector and Capital Goods (investment) sectors saw record low exports in the face of industrial change and global uncertainty.
- Global delivery times and bottles necks improved for the third successive quarter.
- Larger manufacturers have adapted to the current trade climate faster than smaller firms, who saw exporting fall to a 10 year low in Q4. This highlights the need for support for smaller firms to manage the process and risks associated with more diverse export markets.
To discuss any of the details of this report or get support from our trade specialists please contact your Relationship Manager.
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