The UK has become the world’s fourth largest exporter and exported £862 bn of goods and services in the 12 months leading up to February 2024. Exporting industries are an essential part of the UK economy, boosting supply chains, supporting millions of jobs, and driving productivity growth. However, growth in goods exports has lagged behind services in recent years, with services exports 25% higher than goods in 2023. Domestic policies, increased global competition, technological advancement and geopolitical tensions are among some of the barriers to trade facing the UK’s most successful goods exporting industries. The UK has a comparative advantage when it comes to many goods and services and there are huge opportunities for trade to contribute to the UK’s future growth agenda. How can we ensure that domestic industrial policy and trade strategy work together to support businesses to grow and compete in the world economy?
This event will:
- Examine both the domestic and international challenges facing UK exporting industries and how these can be mitigated.
- Consider how Government can work with industry and across departments to reduce barriers and support trade.
- Discuss future opportunities for growth in UK exports including global trade partnerships, new investments and support for decarbonisation.