International Trade

print friendly page

International Trade

Figure 25 UK trade balance of aerospace 1997 ? 2007

The UK aerospace industry exported 67.1 per cent of its total sales in 2007, worth £14.28bn and contributed a net £628 million to the UK's trade balance. The UK Aerospace industry consistently has a positive balance of trade.

Source: BERR

Figure 26 UK trade balance of aerospace by destination 2007

The Americas accounted for the largest share of UK exports, approximately 34 per cent. These exports were worth £4.9bn. However, the trade balance deficit with the Americas remained, valued at £2.36bn.
The EU accounted for £4.3bn of exports, 30.1 per cent of the total, the second largest export region. The trade balance with the EU countries was £1.99bn in 2007.
The trade deficit with other European countries was £680m in 2007.

Source: BERR

Note: Trade balance data is provided by the UK government and represents trade in all aerospace goods to and from the UK, not just the UK aerospace industry as defined by SBAC. The data includes the purchase of aircraft by UK airlines and the sale of second-hand aircraft to the rest of the world. In addition, the source data used to calculate the trade balance for 2007 year is somewhat different to that used in previous years. The figures reported for 2006 have also been amended accordingly.

UKTI and UKTI DSO

UK Trade & Investment (UKTI) is the UK Government's international business development organisation, supporting businesses seeking to establish in the UK and helping UK companies grow internationally.

UKTI works with a wide range of partner organisations in the UK, including trade associations such as SBAC.

The relationship with trade associations like SBAC is vital to ensure that we truly represent the needs of our business sectors. We work closely together to provide a range of services to businesses to help them compete and thrive in an increasingly global market.

We drive both competitiveness and innovation and are a client focused, marketing-led, high performing organisation.

In 2006, UKTI support for UK businesses generated around £2.5bn of added value to the UK economy.
As the number one location in Europe for foreign direct investment (FDI) the UK saw 1,573 new investment projects in 2007-08 up 10% on 2006/07.
In 2007, the UK was the world's largest defence exporter.

UKTI's 5 year strategy ?Prosperity in a changing world', published in July 2006, is about ensuring that the UK continues to be strongly positioned in the changing world economy.

The strategy is designed to ensure that UKTI continues to work to maximise the return to UK business and the economy for the money spent. Examples of work already done in delivering the strategy include:

Moving resources to 17 high growth markets
? including China, India, Brazil and Russia
? to help companies take advantage of
opportunities in these markets, set to be among the largest economies in the world.
Providing ?political only' support in markets where there is no resident UKTI representation.
Establishing a team of private sector specialists targeting companies ? both UK and overseas ? who have the potential to increase their R&D in the UK. (Evidence shows that knowledge-based, innovative activity adds most value for the economy).
Deploying a team of private sector specialists working with UK companies who are likely to benefit from doing business in the high-growth markets.
UKTI leading for Government on the marketing of the UK economy, ensuring it is targeting the right people, with the right messages, to promote the UK's strengths and win business from overseas investors.

UKTI engaging in ongoing targeted marketing strategies for key sectors ? advanced engineering, covering aerospace, is being developed in 2008-09. They are designed to enhance the global brand of the UK's strong offers in these sectors.

THE UK'S COMPELLING MESSAGE: A Springboard For Global Growth is supported by three Unique Selling Points that truly represent the fundamentals of the UK economy's strength:

The UK provides the best environment for companies to grow in.
The UK is a recognised global leader in the fields of creativity and innovation.
UK business provides a unique gateway of international connections.

The Defence and Security Sector. In addition to supporting civil aerospace, on 1 April 2008 responsibility for defence export support transferred from MoD to UKTI and a new group called UKTI Defence and Security Organisation was formed.

UKTI's mission is to deliver maximum value for the UK economy and for business in an increasingly globalised and competitive world.