UK Boasts Fastest Export Growth

18th December 2017.

Export growth in the UK continues to overtake Europe’s other largest economies, boosted by the pound’s weakness, according to recent data..

Research conducted by accountancy and business adviser BDO has found that the UK’S export growth index rose to 110.3 for the fourth quarter of this year. This is a notable rise from the previous three months and hits a nine-month high.

The UK is on course to record the fastest rate of growth for its total exports. This is in stark contrast with Europe’s other leading economies, such as Germany, where exports have taken a fall in the fourth quarter, and the economy is expected to see a slowdown.

According to the research, the figures show how Europe is benefiting from the pick-up in the global economy. The UK economy has bolstered by the lower value of sterling since the vote to leave the European Union. This has decreased the cost of British goods purchased in foreign currencies.

BDO partner Peter Hemington warns against getting overconfident by the results, however, and fears it “could quickly disappear” as the post-Brexit landscape unfolds.

The UK Government must “ensure open and simple access to the global markets, otherwise it risks the growth of our exporters in the longer term”, he adds.

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