Brazil has become the top priority export market for UK manufacturers, with other emerging economies featuring strongly, according to research.
Share this article
Brazil has become the top priority export market for UK manufacturers, with other emerging economies featuring strongly in export intentions for 2014, according to research.
In a new report the Engineering Employers’ Federation (EEF) says emerging markets make-up half of the target countries for UK firms, while two thirds of exporters plan to intensify sales strategies in Asia.
But the report also said not enough businesses were aware of government schemes aimed at helping businesses expand overseas. Those that had utilised the schemes, such as those led by UK Trade and Investment (UKTI) said they recommended them.
Lee Hopley, Chief Economist at EEF, said: “If we are to double our exports by 2020 then we simply have to get more and more companies exporting, helped by a government led crusade highlighting the benefits of UKTI.”
The Eurozone remains the UK’s top target for exporters, with US in second place.