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Switzerland China and South Korea among the UK's fastest growing export partners

24 April, 2018
Posted by: Sam Pileggi
Trade News

This article was published before we became the Chartered Institute of Export & International Trade on 10 July 2024, and this is reflected in references to our old brand and name. For more information about us becoming Chartered, visit our dedicated webpage on the change here.

Swiss street with flags

A study by Wyelands Bank and Global Trade Review, has shown that Switzerland, China and South Korea are among the UK's fastest growing export partners.

The UK's fastest growing markets are, in descending order:

  • Switzerland
  • China
  • Saudi Arabia
  • Hong Kong
  • South Korea

Exports to these five countries were worth $71bn last year. Projected growth means that these markets could generate an extra US$2.1bn a year for UK exports.

Export partners table

Regionally, Europe remains the UK’s biggest trading partner for exports with a 46.3 per cent share. North America is next with 17.2 per cent, while Asia Pacific (7 per cent), Sub-Saharan Africa (5.4 per cent), Mena (1.8 per cent) and South America (1.2 per cent) follow. 

However, the fastest growing market is Asia Pacific, where exports are expected to grow at 3 per cent a year to 2021. South America, where UK exports are expected to grow by around 0.5 per cent annually until 2021, is the second fastest growth region.