International trade: New markets, new opportunities

Source: CBI

The UK remains a net importer of goods and services and export figures are going in the wrong direction.

9.5%increase in total trade exports (to £24.1bn)

11.7%increase in total trade imports (to £35.2bn)

Source: HMRC

Figures for February 2016 compared with January 2016

To help address this 2.2% deficit the Government aims to increase the value of exports to £1tn by 2020.

Source: UKTI

To help address this 2.2% deficit the Government aims to increase the value of exports to £1tn by 2020.

28% According to the CBI, 28% of medium-sized businesses don’t sell overseas because of having difficulty identifying the right opportunities.

Source: UKTI

Where are the opportunities?Top 5 trading partners (Jan 2016)

Exports

The US

£2.9bn

Germany

£2.5bn

Switzerland

£1.9bn

France

£1.4bn

The Netherlands

£1.3bn

Source: HMRC

Source: WTEx

Where are the opportunities?

73% of all UK exports are to just 15 countries:

Germany

The Netherlands

Switzerland

ChinaSpain Italy

UAE

France

Hong Kong

South Korea

Sweden

Saudi Arabia

Ireland

Belgium

The US

Where are the opportunities?Fastest growing export markets for UK (2011-2015)

China+94%

UAE+24%

Saudi Arabia+36%

South Korea+73%

Source: WTEx

Where are the opportunities?Top 5 commodities traded (Jan 2016)

Motor vehicles

Mechanical appliances

Pharmaceutical products

Mineral fuels

Electronic equipment

Precious metals

Mechanical appliances

Motor vehicles

Pharmaceutical products

Electronic equipment

Exports to EU Exports non-EU

Source: HMRC

Factors discouraging businesses from trading internationally and how to overcome them

Uncertainty of opportunitiesGovernment bodies such as UKTI and UKEF as well as professional advisors and banks can provide information about opportunities in overseas markets and help businesses to assess the value of global trade.

1

Source: HMRC

Factors discouraging businesses from trading internationally and how to overcome them

RiskInternational trade can increase your business’ risk profile. However, your bank can provide financial instruments to help mitigate that risk to a level you are comfortable with.

2

Source: HMRC

Factors discouraging businesses from trading internationally and how to overcome them

FundingIn addition to funding from your bank, the Government runs a number of guarantee schemes that can support your overseas growth plans.

3

Source: HMRC

Find out how our trade services can help you trade across borders with confidence.bankofscotlandbusiness.co.uk/international/trade-services/

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