Exports from the UK
Exports from the UK were valued at £851.6bn in the 12 months to June 2023.
It is widely known that the UK has a large trade deficit, whereby it imports more than it exports. Nevertheless, the UK remains in the top 15 countries for goods exports worldwide. The latest available country-specific data as outlined by official UK government statistics indicates 67% of goods and services exported from the UK were bought by importers in the following nations.
Mode of transportation
Customs and compliance
Legal requirements
Incoterms
When exporting your goods from the UK, you need to decide whether you're going to control the shipping process or whether your customer is going to control it.
International Commercial Terms (Incoterms) help to define the responsibility of the seller to the buyer within the supply chain. Incoterms are prepared by the International Chamber of Commerce and include FOB, EXW, CIF, DDU etc. Depending on the incoterms that you decide to use, if you decide you would like control of the product then it is worth considering insuring your goods.
Customs and compliance
When exporting goods from the UK you need to have a thorough understanding of what the requirements are for customs and compliance. Depending on where you are exporting to, each country will have a different set of rules and regulations. If you are shipping food products, chemicals or pharmaceuticals, expect more custom procedures that need to be complied with.
The UK government has published export country guides, to assist exporters with the requirements of their target markets. You can view the export country guide of any nation here.
Keri Barton is our export specialist.
She has worked with many companies of all sizes across the globe to create effective export strategies.
If you are planning an export strategy, we are here to help.
WTA. Here for the journey.
