Oman revealed as UK’s fastest-growing export market

The Maersk Majestic ©Davepark / Wikimedia Commons / CC BY-SA 3.0

The Sultanate of Oman has been the UK’s fastest-growing export market since 2010, according to newly released figures.

Data compiled by the Office for National Statistics shows a 354 per cent increase in exports to the country, worth £3 billion.

Exports to Macedonia (FYROM) grew by 318 per cent to £1 billion over the same period. Kazakhstan was the third fastest-growing market, up 210 per cent to £2 billion.

The figures also reveal that UK exports of goods and services to the rest of the world were higher than UK exports to the EU for ninth year running.

International Trade Secretary, Dr Liam Fox MP said: “British goods remain in global demand as exports to non-EU countries continue to grow in markets such as Oman.

“It shows the confidence the world has in our goods and is important as 90% of global trade will come from outside EU.

“As an international economic department, we have a dynamic and experienced team who will negotiate free trade deals and make a success of Brexit.

“We’re also supporting UK businesses in exporting more and talking to international businesses on why we should be the top destination for investment through our GREAT campaign.”

The United States remained the UK’s top export market, buying goods and services worth more than £112 billion in 2017, representing an increase of 8 per cent since 2016.