Goods exports rise to EU and non-EU countries across different sectors

The volume of UK goods exports surged by 10.8% in August with rises in aircraft sales to Germany, pharmaceutical goods and medicine to Germany, Belgium and the US, and manufactured material goods in India amongst the exports.

The rise completed a three-month period of two double-digit increases either side of a double-digit dip. Sales to the EU rose by 13.2% and to non-EU countries by 8.4%.

Exports to the EU were led by rises in machinery and transport equipment, with aircraft sales to Germany a major driver. Chemicals exports were also strong, chiefly medicines and pharmaceutical goods to Germany and Belgium.

For non-EU countries, demand was high for manufactured material goods in India, mechanical machinery in China, and chemicals exports in the US.

Goods exports values rose by 2.8% from the start of June to the end of August.

On UK goods imports, there was a small increase of 0.2% in volume terms in August, with non-EU imports rising by 2.8%. This was driven by fuel import rises from Norway and increased mechanical equipment imports from China. However, this was offset by a fall in EU imports of 2.4% in volume terms, led by lower car imports from Germany and refined oil from Belgium.

Services exports were estimated to have a steady month with growth of 0.2% in August in both value and volume terms. Services imports to the UK increased slightly by 0.5% in value for August.

William Bain, Head of Trade Policy at the British Chambers of Commerce, said: “The last three months have seen big swings in UK goods exports, with a double-digit fall in sales sandwiched between two doubledigit increases.

“Taking the data from June to August, overall, produces a 2.8% increase in value terms over that period. UK services exports continue to offer stability with modest, but steady, month-on-month growth.

“There are reasons for optimism. The World Trade Organisation forecast a gradual recovery in sales of goods and strong growth in services for the second half of this year.

“The forthcoming Budget, Spending Review and Trade Strategy must all focus on providing the conditions to expand trade as a driver of growth for the UK economy.”

“With the UK being the fourth largest exporter on the planet, and specifically with strong global growth in services, where we are the second largest, being supplied mainly by London companies, there should be many reasons for optimism as we move into 2025.”