33 Procurement Interview Questions in 2022

 United Kingdom Export Statistics 2022 — 18 Key Figures

The United Kingdom is the largest exporter of precious metals in the world. Thus, why many experts also study their export trade. However, what are the latest statistics for their export?

For this article, we will show you the latest statistical export figures of the United Kingdom in 2022. We will also discuss some factors that affect the trade of the United Kingdom. 

Once you are finished reading this article, you will know the latest reports about the export of the United Kingdom. Thus, allowing you to know its economic growth which may give you an opportunity in your business or profession.

A Greener FutureFor UK’s Export

 2021 was the year when the United Kingdom Export Finance (UKEF) led the world into a sustainable future. With the Climate Change Strategy of the United Kingdom, it is committed to reaching net zero carbon emissions by 2050. 

Also, the United Kingdom Export Finance became the first export credit agency (ECAs) to launch a net zero strategy. Thus, supporting the United Kingdom’s plan or interest in using net-zero technologies in the supply chain. 

Following the lead of UKEF, the private market has pledged $130 trillion of capital to shift the global economy to net zero by 2050. On the other hand, 39 other ECAs and multilateral development banks have joined forces pledging to end the support for fossil fuel projects from the end of 2022. 

Exports of Goods to RussiaAmidst The War

Exports of goods to Russia decreased severely since February 2022 and the value of exports of goods to Russia remains historically low. 

The exports of goods to Russia have decreased due to the Russian invasion of Ukraine and the introduction of export sanctions. Additionally, the decrease in the export of goods to Russia was driven primarily by decreases in exports of miscellaneous manufactures, machinery, and transport equipment. 

The continuous assault of Russia on Ukraine has made the UK, EU, US, and other allies respond with significant sanctions that targeted Russia’s financial sector, shipping, aviation, defense, energy, and aerospace, and individuals close to the President of Russia, Vladimir Putin. 

The UK government has applied a series of sanctions on exports of goods to Russia. In March 2022, the UK banned all exports of dual-use goods. Additionally, it bans the export of aviation and space-related goods and technology. 

On April 14, 2022, the UK banned the export of luxury goods. Also, In May 2022, the UK announced the export ban on chemicals, rubbers, plastics, and machinery.

Bringing Businessto The UK

The UKEF continued to put their export finance managers at the center of the “Exporter’s Edge” campaign from 2021 to 2022. The campaign has seen UKEF’s customer relationship database grow from around 30,000 to 100,000 contracts.

The growing overseas network and support teams in the UK engage with overseas multilateral agencies, finance ministries, and developers to know projects of mutual interest that can benefit the UKEF and the UK supply chain. 

The activities held by UKEF seek opportunities around the world and insert themselves into procurement conversations so that financing can facilitate the UK supply chain’s entry into export opportunities. 

Now that you have known some of the factors that affect the export of the UK, it is time now to delve into its export statistical figures to know its export growth. 

United Kingdom Export statisticalThat You Should Know

1. Exports of goods and services from the UK rose by 4.4% in February 2022.  

2. The total value of UK exports increased by 13% in March 2022 compared with the same month last year. 

3. The Office for Budget Responsibility (OBR) expects the UK’s growth of 3.8% in 2022.

4. The total export trade for Q1 of 2022 was £89.3 billion which is a decrease of 10% compared to the Q1 of 2021. 

5. In the last 3 months to March, mechanical appliances replaced precious metals as the largest export commodity.

6. Compared with the previous three months, the value of exported goods rose by 16.3%.

7. In Q2 of 2022, exported goods rose by 12.4% compared with Q1 of 2022.

8. Businesses exporting from the UK decreased by 3.6% when comparing Q1 Of 2022 to Q4 of 2021. 

9. Exports from the UK fell by 4.2% in June 2022. 

10. In June of 2022, the value of total export goods to both EU and non-EU countries decreased by 8%.

11. UK export services sales were up by 0.6% although there was the first decline in total exports felt in the UK in June 2022. 

12. In July of 2022, the top exports of the UK were gold, cars, and gas turbines. 

13. Total exported goods, excluding precious metals, increased by £2.1 billion or by 6.7% in July 2022. 

14. The increase in export in July 2022 was due to higher exports of fuels, machinery, and transport equipment.

15. The total exports of goods, excluding precious metals,  increased by 1.2% or £0.4 billion in August 2022.

16. In August 2022, the rise in exports of miscellaneous manufacturers was due to the higher exports of works of art to South Korea and the USA.

17. Data by the IOE&IT’s UK Exporter Monitor found that the revenues of UK exporters had fallen by 2%. 

18. The total exports of goods and services from the UK increased by 2.2% in August 2022.

Frequentlyasked questions

+What are the UK export statistics?

The UK export statistics allow you to see the latest export data of the United Kingdom. 

+ What is the top product export of the UK?

The top product export of the UK was gold in August 2022. 

+ What country is the top trading partner of the UK?

The top trading partner of the United Kingdom is the United States of America. 

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