Overseas Trade
(asked on 13th March 2017) - View Source
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what assessment he has made of current trends in (a) exports and (b) imports.
UK exports increased (in real terms) by 1.4% and imports by 2.5% between 2015 and 2016.
In its latest forecasts (March 2017), the Office for Budget Responsibility (OBR) expects UK exports to increase faster than imports in 2017 and 2018.
OBR forecasts - UK exports and imports (chained-linked volumes, seasonally adjusted)
| Outturn | Forecast | |||||
| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
Exports (annual % change) | 6.1 | 1.4 | 3.4 | 3.0 | 1.6 | 0.7 | 0.5 |
Imports (annual % change) | 5.5 | 2.5 | 2.1 | 1.9 | 1.4 | 0.8 | 0.6 |
Source: Office for Budget Responsibility, Economic and Fiscal Outlook, March 2017