UK exports remain strong | UK benefits from Saudi Arabian trade | Luxury goods 101

Posted on 18/07/2019 by DHL Express

UK exports remain strong despite global slowdown

New statistics from the Office of National Statistics (ONS) show UK exports are growing, despite the global economy slowing down. UK exports of goods and services in the 12 months to May 2019 increased by 4 per cent to a record high of £647.1 billion.

Secretary of State for International Trade, Dr Liam Fox, said: “Despite the global headwinds getting stronger, [these] record-breaking statistics highlight what a real international trade policy can deliver for the UK as people from around the world continue to express their appetite for British goods and services.”

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British companies benefit from UK-Saudi trade

The first Economic and Social Pillar meeting of the UK-Saudi Arabia Strategic Partnership Council took place last week, in which commercial opportunities between the two nations were outlined. These included a £100 million contract with manufacturer De La Rue to help tackle illicit trade.

The Chancellor of the Exchequer, Phillip Hammond, commented on the positive steps Saudi Arabia is taking towards a more modern economy. “The UK’s experience and expertise mean we are in a unique position to offer Saudi Arabia support with their economic diversification. More investment and more trade benefits both of our economies”

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Luxury goods 101

The global luxury goods sector is experiencing a golden period of growth, expanding 6 per cent in 2018. And this sparkling performance is set to continue with an annual growth of around 3-5 per cent – reaching $360-410 billion by 2025.

However, diverse tastes and increasing shipping locations make getting ahead in the luxury goods sector a challenge. Read our top tips to help your organisation sparkle in this competitive space.

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