UK-Korea Trade Agreement | Exports rise in UK nations | Scotland’s booming fish industry

Posted on 13/06/2019 by DHL Express

UK joint statement with Korea

The UK and Korea have signed a joint statement for trade continuity that will allow businesses to keep trading freely even after the UK has left the European Union. This will help to strengthen the trading relationship between the UK and Korea further, which in 2018 was worth £14.6 billion.

International Trade Secretary Dr Liam Fox commented on the increasing value of trade between the two nations: “Providing continuity in our trading relationship will allow businesses in the UK and Korea to keep trading without any additional barriers, which will help us further increase trade in the years ahead.”

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UK exports boom in all 4 nations

New data released by HMRC has shown a rise of goods exports in every UK nation in the 2018/19 financial year. Goods exports from England grew at 3 per cent to £251.9 billion, Scotland at 12.9 per cent to £32.8 billion, Wales at 7.5 per cent to £17.7 billion and Northern Ireland grew at 4.4 per cent to £9.0 billion.

In the first quarter of 2019 there were 110,831 UK businesses across the country exporting goods, an increase of 5,073 compared to the same period last year. There are now more businesses exporting goods in every UK nation than ever before.

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Scottish fish exports make a splash

The Department for International Trade (DIT) has praised Scotland’s £1 billion fish industry. Latest statistics from HMRC show that goods exports from Scotland grew faster than any other part of the UK in the year to March 2019, now worth £32.8 billion.

In 2018 fish exports from Scotland to China were worth £97 million, China is Scotland’s top destination for fish exports outside of the EU and third largest destination in the world. The USA is the fourth largest destination for Scottish fish, with exports worth £89.5 million last year.

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