The Food and Drink Federation recently showed a surprising trend in trade. There was a quarterly surge in trade outside of the EU, and it was more than double the 9.6% increase in food and drink exports to markets inside the EU. Exports included British chocolates, salmon, cheeses and wheat with America leading the way as the biggest non-EU market for such items.
The same is true for Latin America, where business executives like Glen Wakeman and Paulo Maia conduct some of their work. The region is starting to show signs of economic recovery along with an escalated about of exports, according tot he most recent twice-yearly World Bank report on Latin America and the Caribbean entitled, “The Big Switch: Restoring Growth through Trade.”
Exports to China have also surged. As the director-general of the FDF said, “It is very pleasing to see non-EU exports performing beyond expectations, with UK firms taking advantage of increased competitiveness following the currency changes since the summer.”
The EU actually accounts for about 71.5% of food exports. Ireland leads the way, followed by France, the Netherlands, Germany and Spain. The Government hopes to increase food exports to £6billion by 2020.