Economy

UK exports in steep rise

British businesses exported a record number of goods abroad last year, according to official sources, after a late rally in sales of oil, chemicals and aircraft.

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British businesses exported a record number of goods abroad last year, according to official sources, after a late rally in sales of oil, chemicals and aircraft.

Economy

UK exports in steep rise

British businesses exported a record number of goods abroad last year, according to official sources, after a late rally in sales of oil, chemicals and aircraft.

Share this article

British businesses exported a record number of goods abroad last year, according to official sources, after a late rally in sales of oil, chemicals and aircraft.

Exports jumped 2.1 per cent in December to £25 billion, which, accompanied by a 4.7 per cent drop in imports shrunk the UK trade gap to £7.7 billion during the month.

The headline deficit, encompassing exports of services as well as goods, dropped to £1 billion, its lowest level for 18 months.

But the annual figure for 2013 remained stubbornly high as the value of imports also jumped over the year.

Government data gatherers said: "Despite these record levels of exports and imports, annual growth in the value of trade in goods has slowed considerably since 2010 and 2011."

HM Revenue and Customs described the figures as further evidence of the UK’s economic recovery.

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UK exports in steep rise

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