Bank of Scotland Gameplan - International trade
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Transcript of Bank of Scotland Gameplan - International trade
International trade: New markets, new opportunities
Source: CBI
The UK remains a net importer of goods and services and export figures are going in the wrong direction.
9.5%increase in total trade exports (to £24.1bn)
11.7%increase in total trade imports (to £35.2bn)
Source: HMRC
Figures for February 2016 compared with January 2016
To help address this 2.2% deficit the Government aims to increase the value of exports to £1tn by 2020.
Source: UKTI
To help address this 2.2% deficit the Government aims to increase the value of exports to £1tn by 2020.
28% According to the CBI, 28% of medium-sized businesses don’t sell overseas because of having difficulty identifying the right opportunities.
Source: UKTI
Where are the opportunities?Top 5 trading partners (Jan 2016)
Exports
The US
£2.9bn
Germany
£2.5bn
Switzerland
£1.9bn
France
£1.4bn
The Netherlands
£1.3bn
Source: HMRC
Source: WTEx
Where are the opportunities?
73% of all UK exports are to just 15 countries:
Germany
The Netherlands
Switzerland
ChinaSpain Italy
UAE
France
Hong Kong
South Korea
Sweden
Saudi Arabia
Ireland
Belgium
The US
Where are the opportunities?Fastest growing export markets for UK (2011-2015)
China+94%
UAE+24%
Saudi Arabia+36%
South Korea+73%
Source: WTEx
Where are the opportunities?Top 5 commodities traded (Jan 2016)
Motor vehicles
Mechanical appliances
Pharmaceutical products
Mineral fuels
Electronic equipment
Precious metals
Mechanical appliances
Motor vehicles
Pharmaceutical products
Electronic equipment
Exports to EU Exports non-EU
Source: HMRC
Factors discouraging businesses from trading internationally and how to overcome them
Uncertainty of opportunitiesGovernment bodies such as UKTI and UKEF as well as professional advisors and banks can provide information about opportunities in overseas markets and help businesses to assess the value of global trade.
1
Source: HMRC
Factors discouraging businesses from trading internationally and how to overcome them
RiskInternational trade can increase your business’ risk profile. However, your bank can provide financial instruments to help mitigate that risk to a level you are comfortable with.
2
Source: HMRC
Factors discouraging businesses from trading internationally and how to overcome them
FundingIn addition to funding from your bank, the Government runs a number of guarantee schemes that can support your overseas growth plans.
3
Source: HMRC
Find out how our trade services can help you trade across borders with confidence.bankofscotlandbusiness.co.uk/international/trade-services/
While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Bank of Scotland for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance. Bank of Scotland plc Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000.
More insight to get you inspired, informed and involved at Gameplanbankofscotland.co.uk/gameplan