Exports from the UK to BRICS (an abbreviation for the countries Brazil, Russia, India, China and South Africa) have more than doubled recently.
The Office of National Statistics report export figures to BRICS dramatically rising from £12.7 billion in 2007, to £27.1 billion in 2012.
Exports to Brazil, India, China, Russia and South Africa accounted for 3.34pc in 2007, rising to 5.56pc of the UK’s exports. Compared with 64pc of exports to US and Europe.
If the UK’s export growth to BRICS was similar to the global average (currently 3.7pc), it has been calculated this would equate to an immediate £27 billion boost.
There have been concerns that export growth has been stunted, however, in comparison to other figures, it is argued that UK exports are in line with other exporting countries.
Another string to the UK’s bow is that we are classed as the world’s sixth largest manufacturer.
Export growth in India has risen to £4.67 billion in 2012, from £2.95 billion in 2007.
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