SME Export Track 100 | Strong productivity growth | Confident British manufacturing

Posted on 28/02/2018 by DHL Express

DHL proudly sponsors The Sunday Times SME Export Track 100

On Sunday 25 February the fourth annual Sunday Times Lloyds SME Export Track 100 was announced, ranking Britain’s small and medium-sized private companies with the fastest-growing international sales.

Ian Wilson, CEO of DHL Express UK and Ireland, writes “…goods from the UK are in demand from customers who have an appetite for style and premium quality […] look overseas and you’ll find British traders taking market share in cities and high streets around the world.”

One key enabler helping companies enter overseas markets has been ecommerce, with 17 firms on this year’s league table making the most of their sales online. For these companies in particular, the US, Australia and Asia are proving to be popular growth markets.

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Strongest two quarters of UK productivity growth since recession

According to the latest data from the Office for National Statistics, the UK has experienced its strongest two quarters of productivity growth since the recession of 2008.

Output per hour rose 0.8 per cent in the last three months of 2017, which followed a growth of 0.9 per cent in the previous period. It is hoped that this growth will provide encouragement to policy makers. There was also an increase in wage growth, which is a possible sign that the economy could be shifting.

Yael Selfin, chief economist at KPMG in the UK, said: “If stronger productivity continues into 2018, the Bank of England may decide to hold at least once on raising rates this year.”

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British manufacturing success

Last week, the Secretary for International Trade spoke at the EEF Manufacturing Conference on the success of British manufacturing.

Dr Liam Fox acknowledged the ill-informed perception that ‘Britain doesn’t make anything anymore’. He led a clear message that British manufacturing is not only alive and well but capable, cutting edge and confident.

The UK’s manufacturing capabilities are one of the largest manufacturing economies in the world, with nearly £270 billion in exports. The secretary reassured that he was working to protect the interests of British manufacturing and would ensure the UK continued to have access to markets across Europe and beyond.

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