British Exports Reach Record Highs

An international businessman and consultant, Dr. Shahram Shirkhani regularly handles matters for clients in the United Kingdom. In addition, Dr. Shahram Shirkhani serves as a professor of law at Islamic Azad University in Tehran.

Recently, the Office for National Statistics in the United Kingdom reported that between April and June 2013, the country’s exports rose nearly 5 percent, to £78.4 billion. This surge stems primarily from increasing exports to countries outside the European Union. According to officials, sales to the EU between April and June only increased by 2.3 percent, to £38.1 billion, while exports outside the 27-nation body surged 7.5 percent, to more than £40 billion.

The UK’s rising rate of exports to non-EU countries has been a trend over the last five years: sales to countries such as India and China have risen more than 40 percent. Meanwhile, exports within the EU have only grown by 3.1 percent. By increasing trade with non-EU countries, the UK not only asserts its economic independence from the union, but also meets the growing needs of emerging markets around the world.