Overseas Trade: BRIC Countries
Business, Innovation and Skills
Ian Paisley Jnr (North Antrim, DUP)
To ask the Secretary of State for Business, Innovation and Skills what estimate his Department has made of the level of growth in UK exports to (a) Russia and (b) Brazil in 2012.
Michael Fallon (Sevenoaks, Conservative)
In Q1 2012, UK exports of goods and services totalled £2,149 million to Russia and £1,034 million to Brazil. There was an increase of £396 million (23%) to Russia and £119 million (13%) to Brazil compared with Q1 2011. Estimates for Q2 2012 will be released by the Office for National Statistics in late September 2012.
Data for trade in goods only, collected by HM Revenue and Customs, show total goods exports of £2,877 million to Russia and £1,259 million to Brazil, up £753 million (35%) and £240 million (24%) respectively on the first half of 2011. Each month saw growth in goods exports by value (compared with the same month in 2011).