International Trade and Recent Statistics: UK, Global Markets, and the North East's Net Positive Post-Brexit Journey

The Current State of UK International Trade

The landscape of international trade has undergone significant transformation since Brexit, and the latest 2024 statistics reveal a complex but increasingly positive picture for UK businesses ready to embrace global opportunities.

In 2024, UK exports of goods and services to the EU were £358 billion (41% of all UK exports), while imports from the EU were £454 billion (51% of the UK total). This demonstrates that despite Brexit, the EU remains a crucial trading partner, but it also highlights the massive potential for UK businesses to diversify their international reach.

Brexit's Real Impact: Beyond the Headlines

Contrary to initial pessimistic predictions, the data shows a more nuanced story. The best estimate of the negative impact of Brexit on UK GDP to date is 2–3% of GDP, which, while significant, is far less catastrophic than many projected. More importantly, this creates opportunities for agile businesses to capture market share.

In Q2 2024, the EU still represented 52.6% of total UK trade, following a 15-year high. This stability in EU trade relationships, combined with emerging opportunities in other markets, positions forward-thinking businesses for substantial growth.

UK's Top Export Performers in 2024

The UK's export strengths are becoming increasingly clear. The top 3 commodities exported by the UK in 2024 were cars (£32.8 billion), mechanical power generators (£32.7 billion) and medicinal and pharmaceutical products (£24.6 billion). These sectors represent significant opportunities for businesses in manufacturing, technology, and healthcare to expand internationally.

The North East: A Hidden Success Story

While national headlines focus on challenges, the North East of England has emerged as a post-Brexit success story, particularly in international trade and business development. The region has leveraged its unique position to create net positive outcomes through strategic international partnerships and innovative business models.

Strategic Advantages of the North East

Geographic Position: The North East's location provides excellent access to European markets while serving as a gateway to global trade routes. With Newcastle International Airport serving as a strategic hub, businesses have direct connections to key international markets.

Innovation Infrastructure: The region has invested heavily in innovation-led trade facilities, with purpose-built international trade centres providing comprehensive support for businesses looking to scale globally.

Growing Global Networks: The North East has developed strong relationships with fast-growing markets including Saudi Arabia, the Middle East, and Asia with International Space Station through the leadership of Ammar – regions that represent enormous growth potential for UK businesses. Currently partnering with Saudi Business Links to unlock gateway to UK businesses seeking to grow into Saudi Market.

Global Trade Statistics: The Bigger Picture

Emerging Market Opportunities

While traditional markets remain important, the fastest growth is occurring in emerging economies:

• Middle East Markets: Experiencing rapid economic diversification and infrastructure investment

• Asian Markets: Continued strong growth in technology, manufacturing, and services

• African Markets: Emerging as the next frontier for international expansion

  
  

Technology-Driven Trade Growth

Digital transformation has fundamentally changed international trade patterns. E-commerce exports, digital services, and technology-enabled trade solutions are growing at unprecedented rates, creating opportunities for businesses of all sizes to participate in global markets.

How Businesses Can Increase Net Positive Impact and Growth

1. Leverage Regional Advantages

Businesses in the North East can capitalize on the region's strategic position and growing international trade infrastructure. By utilising specialised trade centres and support programs, companies can access global markets more efficiently than ever before.

2. Focus on Innovation-Driven Exports

The most successful international businesses are those that lead with innovation. Whether it's technological advancement, unique service delivery, or novel business models, innovation creates competitive advantages that translate across borders.

3. Strategic Market Diversification

Rather than relying solely on traditional EU markets, businesses should explore high-growth regions:

• Developing partnerships in the Middle East for energy, technology, and infrastructure opportunities

• Expanding into Asian markets for manufacturing, technology, and consumer goods

• Exploring African markets for emerging opportunities in various sectors

4. Utilize Government Support and Incentives

The UK government has introduced numerous programs to support international expansion. Businesses should take advantage of:

• Export finance and insurance programs

• Trade mission opportunities

• Market research and entry support

• Innovation grants for international development

5. Build Strategic Partnerships

Successful international expansion often relies on local partnerships. The North East's growing network of international connections provides businesses with access to:

• Local market expertise

• Distribution networks

• Cultural understanding

• Regulatory compliance support

The Path Forward: Creating Net Positive Outcomes

For Individual Businesses

Investment in Innovation: Companies that invest in research and development, particularly in areas like clean technology, digital solutions, and advanced manufacturing, are positioned to capture significant international market share.

People Development: Building teams with international experience and cultural competency is crucial for sustained global success.

Process Optimization: Developing scalable business processes that can adapt to different markets while maintaining quality and efficiency.

For the Regional Economy

The North East's focus on creating a supportive ecosystem for international business has begun to pay dividends. By continuing to invest in:

• International trade infrastructure

• Business support programs

• Educational partnerships with global institutions

• Innovation hubs and incubators

The region can continue to attract both domestic businesses looking to expand internationally and foreign investment seeking a gateway to UK and European markets.

Conclusion: The Opportunity Ahead

The statistics tell a clear story: while Brexit created initial challenges, it has also opened new opportunities for businesses ready to think globally. The North East's emergence as a net positive example demonstrates that with the right strategy, infrastructure, and mindset, regions and businesses can thrive in the post-Brexit landscape.

The UK's trade balance with the EU shows a deficit of around £33.3 billion pounds, but this represents an opportunity rather than just a challenge. Businesses that can develop competitive products and services for both European and global markets can capture significant value.

The key to success lies in combining innovation with strategic international expansion, leveraging regional advantages, and building the right partnerships and capabilities for sustainable global growth. The businesses that embrace this approach won't just survive the post-Brexit environment – they'll thrive in it, creating net positive outcomes for themselves, their regions, and the UK economy as a whole.

The future belongs to businesses that can think globally while acting strategically. The North East has shown the way – now it's time for businesses everywhere to follow that lead and capitalise on the tremendous opportunities that international markets present.