Multimodal distribution Terminal in Bristol support trade beyond BRICs

Companies planning to expand their exports abroad should also be looking at the growing economies of the Middle East and North Africa.

The latest Global Connections Trade Forecast research shows that while BRIC countries remain among the fastest-growing global economies and key destinations for the region’s exporters, sales to the Middle East and Africa are set to rise sharply.

The research suggests between 2013 and 2015 annual exports from the UK to these regions will increase by 9% and by a further 7% a year between 2016 and 2020.

With international exports expanding we can expect  growth in the UK as a reaction to this.

Government statistics show that the Middle  East  and  North  Africa  is the South West’s fourth largest export market,  with £324m worth of goods exported to the region during the first six months of this year – with Turkey and Egypt  in  particular  driving  growth.

HSBC  Bristol  and  Bath  area  commercial  director Nick Stork,  said: “According  to  HSBC’s Trade  Forecast, the powerhouses of India and China will  be  joined  by  emerging trading nations. This presents significant opportunities for Bristol companies to target these regions, as well as the rapidly expanding the BRIC nations.”

UK exporters will be able to take advantage of increased demand among the economies of Eastern Europe.   UK exports to Poland, for example, are expected to grow by over 7% a year during 2013-15.

UK exports to Europe (excluding Russia) are forecast to rise by just over 5% a year over the five years to 2020, before stabilising at around 4% per year over the following decade.

Although the share of UK exports destined for China is set to grow, this will not be sufficient to push it above fifth place in the UK league table of trading partners.

The forecast predicts that the US will overtake Germany to become the most important market for UK exports by 2030.

These are positive forcastes that will help drive the Bristol and West Midland economy forward. A positive outlook for all businesses, investors and individuals.

Source: Bristol Business News