Global Britain

This deal between the UK and 90 of its global trading partners is good news for business.

A sharp fall in goods trade with the EU, and a smaller decline with rest of the world, was partially offset by a growth in services trade during May.

Services continue to perform particularly well among UK exports, with solid increases in the past three months. Goods exports performed less well in April, as in recent months.

There are few multi-national trade agreements like this one. The UK’s addition to this bloc will open up new opportunities for both inward and outward investment.

The first quarter of 2024 shows the challenges UK goods exporters face, with a further drop in sales to both EU and non-EU markets, despite a brighter global economic picture.

Supply chain security, trade deals, tariffs and planning permission were the big issues during the BCC’s 5-day mission to the US to promote business and investment.

BCC's Trade Confidence Outlook for Q1 2024 shows most SME exporters struggling to boost overseas sales.

The BCC remains concerned about the impact on small British businesses of new customs checks and charges that come into force on April 30.

Signs of a nascent improvement in import and export volumes as global demand slowly recovers