Made in the UK, Sold to the World: Government launches new strategy to boost UK exports to £1 trillion

Exporting

The Government has launched a new plan to help businesses double UK exports and sell their world-class products around the globe.

The 12-point export strategy, “Made in the UK, Sold to the World” published by the Department for International Trade – is intended to help UK businesses reap the benefits of our free trade deals.

It includes an Export Support Service for exporting advice, and the launch of a new UK Tradeshow Programme tailored to help businesses, particularly those outside London and the South East, to attend and promote their products around the world.

DIT will also be expanding its Export Academy – launched in October – to roll it out across all of the UK including Scotland, Wales and Northern Ireland. The academy will invite owners and managers of SMEs to access masterclasses, roundtables and networking events that help them overcome common challenges first-time exporters face.

The UK exported £600 billion in goods and services last year, but only around one in ten GB businesses currently export – with the number of goods exporters falling behind continental competitors like Germany, Denmark and the Netherlands.

Unlocking the UK’s exporting potential will help level up the country and boost the UK’s economy, with government-led research estimating that exports currently support 6.5 million jobs across the UK, and showing that exporters pay higher wages and are on average 21 percent more productive.

International Trade Secretary Anne-Marie Trevelyan is calling on businesses to ‘Race to a Trillion’ by seizing huge untapped opportunities on offer in the world’s fast-growing markets.

Anne-Marie Trevelyan MP, said: “As we agree ambitious new trade deals around the world, it is more vital than ever that businesses across the UK take advantage of these opportunities and unleash their full exporting potential.

“Our export strategy will help more businesses start exporting and help those who already export to sell more products to more countries. Reaching £1 trillion worth of exports by the end of this decade means more jobs, more opportunities and higher wages helping the UK to level up and build back better.”

This week, DIT is running the inaugural International Trade Week, featuring a series of more than 100 events and workshops across the country hosted by expert trade advisers aimed to help businesses to take advantage of the export support available to them.

Minister for Exports, Mike Freer MP, said: “We know businesses are at different points on their exporting journey. Some are already successful exporters but want to sell more products or reach new markets. Others are yet to take the leap and export for the first time.

“Whatever your story, our tailored support, expertise and international network is here and ready to help you maximise your ambitions and sell to the world.’

The strategy – titled ‘Made in the UK, Sold to the World’ – will see government work hand-in-hand with business to help them to succeed in the global marketplace through a first-class export support framework.

It will help replicate higher levels of exporting seen in the South East of England across all parts of the country to deliver on the Prime Minister’s ambition to level up the UK, and transform the country into a high-wage, high-skill, high-productivity economy.

CBI President, Lord Karan Bilimoria said: “The UK economy is at an inflection point. While current challenges in global trade persist and business continue to adjust to the UK’s new relationship with the EU, firms need to have an eye to future opportunities. The government has stepped up to provide greater practical support for exporters, and we now need to work together to get more British businesses thinking global for growth.

“The new Trade in Services Council (TISC) – called for and coordinated by the CBI – reflects the sector’s importance to the UK economy. It is crucial we better understand and articulate the value of this vital sector as we seek to level up, build globally competitive regions, and develop the goods and services which will drive decarbonisation.”