UK exports to Chile, China and United Arab Emirates (UAE) grew faster than to any other countries in the world in 2013.
Overall, the UK’s exports grew by just 1.4% in 2013 – but exports to Chile grew by 72% to £1.2 billion. Exports to China are now worth £12.4bn, an increase of 18% and exports to UAE were up 16% to £6.2bn.
It was a welcome boost to the government’s target to double the value of UK exports to £1 trillion by 2020. But following the 1.4% overall growth last year, EEF the manufacturers’ organisation said exports would have to grow by 10.4% annually to reach the target.
North Sea oil was a key driver behind the improved exports to Chile. It also saw improved sales of machinery for Chile’s copper mining industry.
Waitrose is a British exporting success in Chile. It has been trading in the country for over a year after agreeing a deal to supply the Unimarc chain.
