London exports rose by 8.1% to £36.6bn for the year ending March 2018, compared to the previous twelve months, according to the latest HMRC figures published last week.
The South East region as a whole outperformed the national average with a reported 6.3% increase in exports.
The national picture shows that exports of goods from England increased to £244.6bn.
The figures for the first quarter of 2018 (Jan – Mar) show that London is now home to more than 17,700 exporters, an increase of 4.8% when compared to the first quarter of 2017, with an average value of £537,000 per exporter.
One London-based business that has experienced this uplift first-hand is the Global Growth Institute.
The Paddington-based leadership development organisation recently secured an international contract with a Mongolian education institute following support from the Department for International Trade (DIT).
The win is set to increase the company’s annual turnover by 25%, with the firm now planning to explore other overseas markets including Turkey, Hong Kong, India, the United States and South Africa.
The success of the Global Growth Institute’s international expansion is being celebrated in DIT’s Exporting is GREAT campaign.
The campaign is currently showcasing 30+ UK businesses – from a range of sectors and regions – to inspire and support firms up and down the country to export.
Parveen Thornhill, head of the London regional trade team, Department for International Trade, said: “These latest figures back up the first-hand experience of the many companies in London that are already feeling the benefits of increased global trade and finding success in overseas markets.
“We want firms to export their products and take advantage of the support available through DIT. We have 35 International Trade Advisers in London that can help businesses navigate the exporting process.”
International Trade Secretary, Dr Liam Fox said: “As we continue our path to Brexit, HMRC’s latest figures clearly show every part of the UK making the most of global opportunities as goods exports rise across the country.
“More than 100,000 businesses are expanding their horizons and making the most of the demand for quality British goods.
“For some, this isn’t the end of the road but the start to their exporting journey. As they grow their networks and create jobs and prosperity across the UK, my international economic department is supporting them through our experienced international trade advisers and Exporting is GREAT campaign.”
Separate figures released by the Department for International Trade on 7th June highlight British businesses feeling that UK exports are set to remain on an ever-growing upward curve as the UK leaves the European Union.
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