The world is changing and with Europe in disarray, it’s interesting to see where the UK’s main exports markets are. Make no mistake, Europe is biggest export market for the UK without doubt. But the latest figures show some interesting developments on where the global economy is moving!
There’s a change coming and this graphic illustrates it perfectly – look at the biggest growth areas. India and surprisingly Russia are looking as though they will become very important markets for the British economy. Our biggest trading partners the Americans are showing very slow growth. It looks like in a few years the biggest export markets for Britain are going to be completely different.
IT’s one of the problems I have with the European Union, the world is not that small anymore. Of course it’s great to liberalise trade and reduce barriers in the European Union but the rest of the world is on the whole doing much better than Europe. Look at the top products we sell, the biggest ones like metals, minerals and nuclear reactors are exactly the sort of products that the fast growing developing countries will need. Your not going to sell many nuclear products in Europe where many countries are replaing with alternative energy sources.
There are also developing areas within the UK economy that are not listed on this picture, for one the rise of businesses based on the internet. It can be surprisingly difficult to deal with trade partners situated in different areas. I tried to do business with a company in Australia, but was unable to access many of the corporate and banking sites I needed to. Fortunately someone pointed me in the directions of some instructions which explained that I needed an Australian proxy server to access them. Here’s a useful article about Smart DNS and methods for accessing sites that are restricted by location – http://www.theninjaproxy.org/ninja/change-ip-address-region-free-smart-dns/
These are the sort of barriers that damage trade though, often the result of commercial protectionism that seek only to defend profits of a single company at the expense of an entire economy.