Exports of goods and services from the UK grew 4.5 percent from a month earlier to GBP 55.41 billion in June 2019, the most since October 2016. Shipments of goods surged 7.6%, driven by machinery & transport equipment (0.2 percent); chemicals (16.2%); material manufactures (0.3%); food & live animals (1.5%); animals & vegetable oils and fats (19.4%) and beverages & tobacco (3.9%). In contrast, those of fuels declined (-21.4%). Meanwhile, exports of services increased 0.6%. Among major trading partners, goods exports to non-EU countries jumped 17.8 percent, mostly to China (110.2%), Hong Kong (47.9%), the UAE (83.4%), India (21.3%), Japan (1.3%) and South Korea (22.2%). Conversely, declines were registered in shipments to the US (-1.5%), Switzerland (-1.6%), Singapore (-11.1%) and Turkey (-16.7%). Exports to the EU fell 3.3 percent, in particular to the Netherlands (-17.8%) and Belgium (-2.8%), but rose to Germany (0.7%), France (0.5%), Ireland (5.4%), Italy (2.2%) and Spain (6.7%). Exports in the United Kingdom averaged 24588.90 GBP Million from 1955 until 2019, reaching an all time high of 55669 GBP Million in March of 2019 and a record low of 962 GBP Million in June of 1955.
Exports in the United Kingdom is expected to be 55200.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in the United Kingdom to stand at 56200.00 in 12 months time. In the long-term, the United Kingdom Exports is projected to trend around 57700.00 GBP Million in 2020, according to our econometric models.