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UK trade and investment in 2018: behind the numbers

More businesses than ever are seeking expansion opportunities overseas, International Trade Secretary Dr Liam Fox MP said as he celebrated a successful year for trade and investment.

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UK trade and investment in 2018: behind the numbers
UK trade and investment in 2018: behind the numbers. Image: Pixabay

More businesses than ever are seeking expansion opportunities overseas, International Trade Secretary Dr Liam Fox MP said as he celebrated a successful year for trade and investment.

International Trade Secretary, Dr Liam Fox MP, said:

2018 has been a year to celebrate our successes in trade – with record highs in investment and exports. In a year where we launched our Export Strategy, our GDP continues to grow at a quicker rate than the Eurozone, and employment is at a rate we haven’t seen for more than 40 years.

With exports reaching £626bn we look forward to 2019. Overseas trade will continue to play a crucial part in economic growth and my international economic department will do all it can to support UK businesses to expand their operations overseas.

Key headline figures from UK trade and investment in 2018:

  • £626bn – The demand for UK goods and services overseas continued to grow, as exports in the year to October 2018 rose to £626bn.
  • Trade beyond the EU – There has also been a clear shift in who we trade with, as whilst ten years ago more than half of our exports went to the EU, 54.2% now go to non-EU countries.
  • 0.6% – GDP growth in the third quarter this year was significantly greater than the Eurozone (0.6% from 0.2%) And the economy is now 17.8% bigger since 2010.
  • £114bn – The US remained the UKs top single export destination, with exports increasing to £114bn in the year to 2018 Q3.
  • £59bn – Goods exports from the Northern Powerhouse increased by 2.1% in the year to 2018 Q3.
  • £56bn – Goods exports from the Midlands Engine increased by 6.1% in the year to 2018 Q3.
  • 110,000 – The number of VAT-registered businesses exporting goods in the UK increased by 1.5% to 110,000 in 2018 Q3 compared to the same quarter in the previous year.
  • 10.4% – Over the past year some of the world’s fastest growing economies have shown a growing interest in British produce, as exports to ASEAN increased by 10.4% in the year to end 2018 Q2.
  • £5bn – Foreign investors are feeling more confident than ever placing their money in UK companies. The UKs vibrant tech sector has received over £5bn in venture capitalist funding between June 2016 and June 2018, more than France, Germany and Sweden combined.
  • 75,698 – 2017/2018 saw 75,968 new jobs created as a result of Foreign Direct Investment, as the UK remained the top destination for FDI in Europe.
  • In August, the Department for International Trade launched its ambitious new Export Strategy, seeking to move exports as a percentage of GDP from 30% to 35%.
  • The strategy set out a range of support which will help businesses make the most of significant export opportunities around the world.
  • Fastest growing export destinations only include markets with export values equal to or greater than £1bn.

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Freight Forwarding

BDP International enters US customs brokerage portfolio

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BDP International enters US customs brokerage portfolio. Image: Pixabay
BDP International enters US customs brokerage portfolio. Image: Pixabay
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BDP International, a leading privately owned global logistics and transportation solutions company has announced the acquisition of DJS International, a Dallas-based customs brokerage and freight forwarding company.

DJS provides customized logistics solutions to a diverse group of more than 800 long-tenured customers across all modes of transportation. As a proven leader in international trade, transportation and customs brokerage services, DJS will readily complement BDP’s diverse portfolio of logistics and global trade management solutions, with trade compliance and inbound logistics as key focus areas.

“The similarities between our two companies are astounding; both built from humble beginnings, family-owned and operated, strong customer relationships, and both expanding in prominence as major global players in the industry,” noted BDP Chairman & CEO, Rich Bolte. “Trade compliance continues to be filled with new complexities and challenges; it’s a major focus area for our customers and therefore it was a natural fit to extend our reach in this area of expertise. We’ve always had a significant presence in the US Gulf region but with DJS we can provide a wider array of specialized and customized solutions for our customers in this new normal world.”

DJS will operate as a subsidiary of BDP, guaranteeing access to BDP’s entire global network and portfolio of services. BDP and its partners will reap the benefits of DJS’s proven position as a leader in trade management. With this new partnership, BDP International and DJS customers can expect a unique service experience backed by a combined century of industry know-how, expertise, and experience.

“Our team at DJS is a family, and we pride ourselves on the notion of delivering service excellence to our customers – we adapt and fit to their ever-changing needs in this complex world,” noted David Meyer, DJS president and chief operating officer. “We wanted to partner with a company who had similar corporate values rooted in delivering service excellence and look forward to working with our 5000 new BDP family members while leveraging BDP’s technology, visibility, and global presence to continue helping our customers streamline and simplify their supply chains.”

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Parcel

NZ Post plans to invest close to $170 million on infrastructure – starting with a new Wellington ‘super’ depot for parcels

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NZ Post plans to invest close to $170 million on infrastructure - starting with a new Wellington ‘super’ depot for parcels. Image: Flickr/ 70_musclecar_RT+6
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The investment programme begins with construction of a new ‘super depot’ for parcels, in Grenada, Wellington. The programme also includes a new processing centre in Wiri, Auckland, due to open in 2023, and an upgrade to the Southern Operations Centre in Christchurch in 2022.

The Wellington super depot is due to open in 2022. NZ Post plans to invest around $18 million in the latest global technology that will sort and scan parcels at a much faster rate than what we have now.

“We know that customers really want complete visibility of where their parcel is at all times of its journey – and this technology will improve our ability to do this,” says NZ Post Chief Executive, David Walsh. “We’re making this multi million dollar investment to support New Zealand businesses – both growing new businesses as well as major ecommerce giants.

“NZ Post is forecasting significant growth in the amount New Zealanders will buy online in the next decade – this was before the explosion in online shopping during the COVID-19 period. Last year online shopping in New Zealand grew 13% with almost 50% of adult New Zealanders now shopping online, and we are expecting this growth to continue. We’re pleased to be able to invest confidently in our future, to meet the growth in online shopping.

“The depot will have a 10440 square metre processing floor – about the size of a rugby field – with plenty of room for processing New Zealanders’ parcels.

“We are proud to be contributing to the Wellington regional economy over the next two years, with the projects main contractors, Aspec Construction Wellington LTD, expecting to employ around 350 people through 60 sub-contractors on this project,” says Ash Pama, the property owners’ representative.

During the COVID lockdown period, NZ Post received over 3.5 million parcels in the first two weeks of Alert Level 3. It had been planning for this quantity of parcels in 2023.

Supporting our commitment to be carbon neutral from 2030, the Wellington super depot will incorporate a range of environmentally sustainable design features and has also been designed to accommodate a large solar power installation once battery technology makes this a viable option for our operation.

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Port of Long Beach sees cargo increase

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Port of Long Beach sees cargo increase. Port of Long Beach
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Cargo shipments rose at the Port of Long Beach in May as the economic effects of COVID-19 started to subside.

Dockworkers and terminal operators moved 628,205 twenty-foot equivalent units of container cargo last month, a 9.5% increase from May 2019. Imports grew 7.6% to 312,590 TEUs, while exports climbed 11.6% to 134,556 TEUs. Empty containers headed back overseas jumped 11.4% to 181,060 TEUs.

The Port has moved 2,830,855 TEUs during the first five months of 2020, 5.9% down from the same period in 2019.

“Our strong numbers reflect the efforts of our Business Recovery Task Force, which is setting the path for efficient cargo movement and growth,” said Mario Cordero, Executive Director of the Port of Long Beach. “Our focus on operational excellence and world-class customer service will continue as we prioritize our industry-leading infrastructure development projects.”

“We aren’t out of the woods, but this is the gradual growth we have anticipated as the United States starts to rebound from the devastating economic impacts of COVID-19 and the trade war with China,” said Long Beach Harbor Commission President Bonnie Lowenthal.

As part of its recovery efforts, the Port of Long Beach has activated an internal Business Recovery Task Force that works with customers, industry partners, labor and government agencies to ensure terminal and supply chain operations continue without disruption, along with expediting shipments of crucial personal protective equipment.

May marked the first month in 2020 that cargo shipments rose at the nation’s second-busiest port, and followed seven consecutive months of declines attributed to the U.S.-China trade dispute and the COVID-19 epidemic.

Manufacturing in China continues to rebound from the effects of COVID-19, while demand for furniture, digital products and home improvement goods is increasing in the United States.

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