Which products does the UK export, and where does it export them to? Read on to find out!
Last week, figures from the automotive industry showed a decline in UK car sales. They also shone a light on the UK's third biggest export - eight out of 10 cars built in the UK are exported.
HM Revenue and Customs releases monthly figures for UK trade. According to the latest figures from October 2011, the UK's biggest export in the year to date was nuclear reactors, boilers, machinery and mechanical appliances (including parts thereof). Mineral fuels, mineral oils and products of their distillation,bituminous substances and mineral waxes followed in second place, although incidentally it was also the most highly imported product in 2011 rising by 46% on the year.
Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof ranked as both third highest import and export. In the year to date (October 2011) the UK exported £23bn worth and spent £32bn on importing these items.
The United States received the most British export goods last year, followed by Germany and France. The top trade partner for imports was Germany, followed by the United States and China. The UK exported £31.7bn worth of products to the US.
Check out the tables below for top trading partners or download the spreadsheet for the full data on the UK's top exported and imported goods year on year.
Source:The Guardian
Please, follow the link below to read the tables
http://www.theguardian.com/news/datablog/2010/feb/24/uk-trade-exports-imports
6 March 2012 Last updated at
17:49
from: http://www.bbc.co.uk/news/business-17272716
Brazil has become the sixth-biggest economy in the world, the country's finance
minister has said.
The Latin American nation's economy grew 2.7% last year, official figures show,
more than the UK's 0.8% growth.The National Institute of Economic and Social Research (NIESR) and other
economic forecasters also said that Brazil had now overtaken the UK.
The Brazilian economy is now worth $2.5tn (£1.6tn), according to Finance
Minister Guido Mantega.
But Mr Mantega was keen to play down the symbolic transition - which comes
after China officially overtook Japan as the world's second-biggest economy last
year.
"It is not important to be the world's sixth-biggest economy, but to be among
the most dynamic economies, and with sustainable growth," he said.
Brazil is enjoying an economic boom because of high food and oil prices,
which has led to rapid growth.
In 2010, the Brazilian economy was worth $2.09tn, compared with the UK's
$2.25tn total output, in current US dollars, according
to the International Monetary Fund.However, according to NIESR, using the IMF's figures at current exchange
rates, Brazil's economy is now $2.52tn and the UK's is $2.48tn.
The larger increase in the nominal size of both economies is explained by
domestic inflation.
The Centre for Economics and Business Research has also said that Brazil's
economy has overtaken the UK's.
A UK Treasury spokesman said: "Strong economic growth and large populations
in the big emerging economies mean that some will catch up with advanced
economies like the UK. This shows why the government is right to place high
importance on its economic ties with large emerging economies."
Oil production
In the fourth quarter of last year, Brazil's economy grew by 0.3% from the
previous quarter, according to Instituto Brasileiro de Geografia de Estatistica.
Both the annual and quarterly figures were less than analysts had
predicted.
Brazilian President Dilma Rousseff has attributed the slowdown in growth last
year mainly to the weak global economic situation and the need to fight rising
inflation.
Brazil, the largest Latin American economy and one of the so-called Bric
nations together with Russia, India and China, has seen its economy soar in
recent years, with growth far outpacing the US and western Europe, but sending
inflation higher.
The currency, the real, fell 11% against the US dollar last year.
That is after two years of huge gains - up 5% in 2010 and 34% in 2009. The
currency is worth more than double what it was 10 years ago.
With substantial oil and gas reserves continuing to be discovered off
Brazil's coast in recent years, the country is now the world's ninth largest oil
producer, and the government wishes to ultimately enter the top five.
Brazil has about 190 million people, in contrast to the UK's 60 million
people.
And the country has struggled with inequality. The country's Gini
coefficient, a measure of income inequality, peaked at 0.61 in 1990 - but 2010's
figure was a historic low of 0.53.
Absolute and relative poverty have declined in recent years, especially in
the past decade, during which the poorest 50% saw their incomes go up by 68%,
according to the Getulio Vargas Foundation.
The country will host the 2014 World Cup, and Rio de Janeiro will be home to
the 2016 summer Olympics.
