How UK exporters can close gap in global exporting race

How UK exporters can close gap in global exporting race

New research from RBS highlights the steps UK exporters could take to close the gap in the global exporting race.

Economic Analysis

07 August 2014

UK goods exports were just 4% higher in 2013 than in 2008, but had they grown at the same rate as world trade, exports would have been 16% higher.

To explain the underperformance of UK exports, Senior RBS Economist David Fenton has highlighted three essential factors to succeed: what you do (product mix); where you do it (geographic focus); and how you do it (competitiveness). The results show that to improve the growth of the UK export market, businesses need to reconsider where they export and how they do it. 

The research reveals that competitiveness is the most significant drag on the UK’s export performance, but encouragingly UK exporters seem to be increasingly focusing on products where the UK has a competitive advantage. The UK exports more drinks, chemicals, pharmaceuticals, pottery, glass and cars than the global average, all of which will improve overall UK export levels. 

Geographically, the weaknesses facing many of the UK’s core export markets, most notably in the Eurozone, have also played their part in inhibiting export growth between 2008-2012. However, the potential opportunities offered by rising incomes and growing demand in developing and emerging markets means African, Asian and Latin American countries are providing increasingly positive contributions to UK exports. 



Latest news

Women and millennials help drive £17bn+ franchise sector to record levels

New research from NatWest and the British Franchise Association (bfa) highlights changes and profitability in the sector.

Winners announced for Skills & Opportunities Fund

52 winning organisations have been announced for round two of the 2018 Skills & Opportunities Fund.

RBS Multicultural Network meets Eric Holder, 82nd US Attorney General

Simon McNamara, RBS Chief Administrative Officer and Executive Sponsor of the RBS Multicultural Network, recently hosted an event in discussion with Eric Holder, the first black US Attorney General. They discussed career, ethnicity, diversity and even a little bit of politics. At the event, Eric Holder shared his wisdom and experience with attendees from the RBS Executive committee and RBS Multicultural Network. Simon McNamara blogs about his experience meeting Eric, a BAME role model, and why diversity is so important to RBS.

Set Tab for lightbox