+44 (0) 207 495 2244

Foreign Trade Opportunities for UK Business post-Brexit

While it can be tempting to be overwhelmed by the amount of Brexit bad news being shared, it is important to also recognise the possible benefits of the UK exiting the EU next March.

For instance, the Office for National Statistics reports that in 2015, 56% of UK exports were to countries outside the EU, and Japan was the 11th largest purchaser of UK exports – very impressive given that countries prefer to trade with those who are geographically closer to them. Britain actually exports more to Japan than it does to Sweden, which could be considered a next-door neighbour.

Furthermore, in 2014 the United States was the country with the largest share of UK exports of goods and services, and also received 25% of UK FDI in 2014.

The UK has been growing the amount of trade conducted with emerging and developed non-EU economies and is working to agree new trade deals, within the wider picture given by the IMF which has predicted that 90% of global growth will be outside the EU in coming years.

The UK has also just secured it’s first ‘post-Brexit trade deal’ with six southern African nations, and has set up trade working groups with 21 countries, making an encouraging start to the promised new era of international free trade for the UK.

The most significant point to take away from this discussion is that, no matter what may be discussed in the press, the UK is very much open for business and trade with countries all over the world and Ecovis, with its many international partners, is well suited to help your business navigate this new global arena.