UK export businesses reach 25-year peak

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UK export businesses reach 25-year peak (image credit: iStock/cybrain)

New research has highlighted the significant rise in UK exporters that is continuing to take place, with the sector witnessing a 25-year peak in operators during the last year.

Figures published as part of the UK Export Finance (UKEF) annual report have revealed a sharp increase in exporter numbers in 2015, with a 23 per cent annual rise during the year.

UKEF reported more than £1.8 billion was delivered by the body in support to the nation's exporters last year - the highest annual figure on record. Moreover, UKEF saw its strongest annual performance in terms of levels of insurance taken out to these businesses.

Responding to the impressive annual data, UKEF chief executive officer Louis Taylor commented: "This year's results show that we are making significant progress in reaching a wider customer base. We will continue to be innovative and flexible, anticipating the needs of exporters and finding ways to meet them."

He added that the organisation will endeavour to ensure the UK remains a trading powerhouse in the coming years, despite the likely impact of Brexit and the uncertainty that this has already created among many exporting firms.

As a result, UKEF has pledged it will now be acting in full support of the government's ongoing Exporting is Great initiative, which aims to ensure more than 100,000 UK businesses are working with international partners and exporting goods overseas by the end of the decade.