UK services export volumes have risen nine times faster than goods since 2010, according to official data, further underlining the economy’s shift away from manufacturing, which some economists said was accelerated by Brexit.
Figures published by the Office for National Statistics on Monday showed a 63 per cent real terms growth in the export of services in the 14 years to the end of 2023, compared with just a 7 per cent rise for goods.
“Trends in UK trade have been a long-run shift from goods exports to services exports, as competition from both the EU and other manufacturing centres has pushed UK comparative advantage towards services,” said John Springford, of the Centre for European Reform think-tank. “Brexit has accelerated that shift.”
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