UKTI blog

https://ukti.blog.gov.uk/2012/10/26/10-things-you-need-to-know-about-emerging-europe/

10 things you need to know about Emerging Europe

We’re about to start the biggest ever UK roadshow promoting great business opportunity in Emerging Europe. We’re getting really excited.

Emerging market opportunity bang on the UK’s doorstep. At some stage before the end of November we will have been within an hour of most businesses in the UK. We really want you to hear our story so sign up for one of the venues on the tour.

We have produced a spanking new set of sector opportunity updates; we’ve put together a great Emerging Europe – County Factfile – in print and online. We really want you to make the most of the opportunity – here’s 10 things you didn’t know about the region:

1. Did you know that the UK is the fourth largest importer from Emerging Europe and the eighth largest exporter to the region?

2. In 2011 growth in UK exports to China, India and Emerging Europe was the same – an impressive 2 billion pounds in growth to each market?

3. Exports of goods and services to Emerging Europe from the UK were worth £16 billion in 2011, a 15.8% (£2.2 billion) rise on 2010, and 106% (£8.21 billion) rise on 2004.

4. The UK’s top exports to Emerging Europe in the first half of 2012 were Machinery (£733.8 million), Electrical Machinery, Sound and Video Equipment (£561.7 million), and Vehicles and Vehicle Parts (£557.9 million).

5. The same categories form the UK’s main imports from the region during this period, albeit in a different order: Electrical Machinery, Sound and Video Equipment (£2 billion), Machinery (£1.9 billion), and Vehicles and Vehicle Parts (£1.6 billion).

6. Some of the fastest growing exports to Emerging Europe from the UK are Optic, Photo, Medic or Surgical Instruments, having grown 29.3% (£38 million) in the first half of 2012, over the same period in 2010.

7. Export of services to the region increased by 23% in 2011. Top put this in context, this compares with a 19% increase in UK services exports to China and 23.5% increase in services exports to India.

8. In fact, UK services exports to the region were worth some £4.6 billion in 2011 – more than to China and Brazil combined.

9. The region offers much potential: UK exports to CEN are less than half of what they are to the Netherlands even though CEN’s population is over six times larger

10. Indeed, £30 billion could be added to the UK’s GDP if it matched just half of Germany, Italy or France’s trade performance with CEN by 2020 (FCO).

Well, Emerging Europe’s looking like a great place to be. We’re sure you need to know more. There’s lots going on. We don’t want you to miss out. For more information go to http://www.ukti.gov.uk/emergingeurope

This originally appeared on the FCO's blog site Global Conversations - find out more at http://blogs.fco.gov.uk/

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