UK business owners will be pleased to hear the positive news surrounding British exports, with a new report revealing that growth in UK exports is set to double in the next 12 years.
The HSBC data found the export boom looks set to continue in the coming years, with the prediction that UK exports of goods and services will rise by 22% in value by 2020, and double by 2030.
Their survey of more than 6,000 companies confirmed that nearly three-quarters (72%) of UK-based businesses expect their overseas trade to increase over the next 12 months.
HSBC’s new trade forecast also predicted that UK goods and services exports will increase by 10% in 2018 – the fastest pace of growth since 2011.
International Trade Secretary, Dr Liam Fox, commented on these findings, “The UK is entering a period of unprecedented economic opportunity, with latest figures showing a surge in exports together with optimism for continued export growth in the years ahead.”
He added, “As an international economic department, we are supporting UK businesses from every part of the country to succeed on the global stage, and ensure this creates more jobs and prosperity in every part of the country.”
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