FedEx – falling Sterling improving UK exports

FedEx Express have published a report that suggests the falling Sterling has been good for exports in the UK. 63% of UK small and medium businesses are exporting and taking advantage of the exchange rate.

The research by FedEx suggests that export revenues make up 59% of SMBs’ total revenue, a third of whom are anticipating revenue growth in the next 12 months.

The FedEx report, “SME Export Report: Digital Economy Fuels Optimism and Growth Among European SMEs,” found that 86 per cent of exporting UK SMEs trade in Europe, while 63 per cent trade outside of Europe.

E-commerce has been shown to be a key driver of growth. 81% of UK exporting SMBs generate revenue online:

Top UK SME Export Markets (within Europe)

France – 60%

Germany – 56%

Ireland – 43%

Spain – 39%

Italy – 35%

Netherlands – 35%

Belgium – 33%

Top UK SME Export Markets (outside Europe)

USA – 38%

India – 20%

Australia – 16%

UAE – 15%

South Africa – 13%

Brazil 11%

“It’s promising to see exports could be having a positive impact on the UK economy,” said Ed Clarke, managing director, UK ground operations, FedEx Express.  “To continue this upward momentum, governments and businesses across the world should play an increasingly important role to align SMEs exporting ambitions with the digital economy – providing more opportunities to reach new markets and customers.”

Clarke added: “British SMEs are the bedrock of the economy. As these businesses are displaying such great resilience in times of uncertainty, there will no doubt be an upswing in exciting and ambitious SMEs who also want to make their mark in today’s economy.  By benefiting from advice from their logistics providers, these enterprises will be ready to meet the challenges head on with a lot of positivity.”  
Subscribe to Newsletter