UK’s exports to India register fastest increase among non-EU partners
The United Kingdom’s exports to India registered the fastest increase among trading partners outside the European Union in 2018, official figures released on Monday show.
The exports to India grew 19.3% (amounting to £8 billion), compared to the UK’s exports to Japan (7.9%), China (4.6%), and Canada (4.2%), the Department for International Trade said.
Of all UK exports to India in the four quarters to the end of Q4 2018, £5.5 billion (69.2%) were goods and £2.5 billion (30.8%) were services, the figures show. In the four quarters to the end of Q4 2018, £7.7 billion (61.9%) of all UK imports from India were goods and £4.8 billion (38.1%) were services.
Material manufacture was the largest contributor to the increase in goods exports to India in 2018, increasing by £1.1 billion to £5.5 billion. Non-ferrous metals were the second largest ontributor, increasing by £556 million to £1.4 billion.
Oil exports were the third largest contributor to the increase in goods exports to India, increasing by £512 million to £1.1 billion.
Liam Fox, secretary for international trade, said: “Even with an increasingly challenging global economic outlook, these latest figures show demand for UK exports across the globe continues to grow and there is clear appetite for British products all around the world”.