The latest figures from the Food and Drink Federation demonstrate that the growth of UK food and drink exports shows no signs of slowing. And even though rising prices influence the value of export revenues, volumes are also increasing across the board.
In short, with the Brexit malaise now seemingly behind us, the outlook is very positive indeed for British businesses looking to further expand their global footprint – and for those with ambitions to do so in the near future.
So let’s unpick these figures and see what they might mean for you as an outfit looking to export UK food and drink in 2023 and beyond.
Figures Released from FDF Show Encouraging Growth of UK Exports
As mentioned, the Q3 trade snapshot made for excellent reading for those involved in the export of UK produce. Not only was the value of exports up 23.1% year-on-year for Q3, but there were considerable rebounds in demand within countries previously experiencing friction through the Brexit process – notably with exports to Italy, Spain, and the Netherlands up by a whopping 42%, 52%, and 35% respectively.
However, growth was by no means limited to past favourites in the EU bloc. Massive exportation growth was seen in UAE (41%), Singapore (20%) and South Korea (35%) – all locations where Leverbrook Export has strong relationships and partnerships already in place.
The surprise standout from the export data was Malaysia, with a 38% jump and more expected with the UK’s impending official accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), of which Malaysia is a member. A successful bid to join would see many tariffs on UK goods removed or significantly reduced overnight – making UK exports more attractive to Malaysian consumers and businesses alike.
Which Food and Drink Products Are Performing Best in Key Export Markets?
The most significant growth was seen within the product categories of gin and cheese, which increased in value by 41% and 40%, respectively. In addition to their growth in value, their respective volumes also rose by 35% and 20%.
However, there were plenty of increases across the board, with consumer data revealing high-quality British produce and award-winning products as critical components of capturing the hearts of many consumers across the globe.
Products with recognition from organisations such as The Great Taste Awards and the Guild of Fine Foods were particularly popular in key markets such as South Korea, where quality is seen as paramount. The preferential access through the continuity free trade agreement also proved vital for the continued growth of exports to this affluent nation.
How Can You Take Advantage of the Ever-Increasing Demand for British Food and Drink Products?
Whether you’re a UK-based brand looking to secure lucrative overseas partnerships or an importer, retailer, or international business looking to source the best British food and drink products on offer, now is the time to reach out and connect with some of the leading experts in the industry.
Here at Leverbrook Export, we’re fully dedicated to helping both established businesses and start-ups make the most of the ever-increasing demand for high-quality food and drink products exported from the UK.
We boast 50 years in the business and have developed unrivalled expertise and relationships with numerous port authorities, freight forwarders, and reputable suppliers across the globe. So no matter your reason for wanting to export UK food and drink products, we have the expertise and connections to help you succeed.
To discuss how we can help you meet your exporting goals, get in touch with our friendly team today on +44 (0) 151 645 3517 or request a quote via our online form.