§ Lord Shore of Stepneyasked Her Majesty's Government:
What percentage of the United Kingdom's total visible exports and imports and, separately, of the United Kingdom's invisible exports and imports, were accounted for by trade with the United States in 1978, 1988 and the last complete year; and what measures are being taken by HM Government to increase the United Kingdom's exports to the United States. [HL854]
§ The Minister for Science, Department of Trade and Industry (Lord Sainsbury of Turville)
122WA
UK trade with the US 1988 1998 US £" million World £ million US share % US £ million World £ million US share % Exports Goods 10,704 80,346 13.3 21,702 164,132 13.2 Services 6,255 26,927 23.2 14,106 60,070 23.5
UK trade with the US 1988 1998 US £ million World £ million US share % US £ million World £ million US share % Investment income 12,648 56,550 22.4 24,153 111,365 21.7 Transfer 151 3,830 3.9 1,428 15,596 9.2 Total 29,758 167,653 17.7 61,389 351,163 17.5 Imports Goods 10,499 101,826 10.3 24,853 184,897 13.4 Services 4,117 22,970 17.9 10,073 47,817 21.1 Investment income 13,310 51,984 25.6 28,992 96,191 30.1 Transfer 286 7,348 3.9 1,486 22,122 6.7 Total 28,212 184,128 15.3 65,404 351,027 18.6 (Information for trade, other than in goods, was not broken down by partner country prior to 1988.) Her Majesty's Government have been very active in recent years in encouraging more UK exports to the US. For example, in November 1998, the Department of Trade and Industry launched its Export USA programme (now under British Trade International) designed to give small- and medium-sized companies the knowledge and confidence to do business in the US market. Over 100 companies are currently in the programme.
Export USA is an addition to the full programme of promotional events already organised or supported by British Trade International. These events are designed to increase companies' awareness of the huge opportunities that exist for them in the US as well as helping them to understand various aspects of US business practice. The majority are sectorally focused, these sectors including aerospace, biotechnology, giftware, food and drink, creative and media and IT and electronics. In the coming year, British Trade International will be offering support for over 20 sectorally-focused trade missions to the US and for 99 exhibitions and seminars in the US—the latter being the largest ever programme for US events under the Support for Exhibitions and Seminars Abroad (SESA) scheme.
In 1999–2000, British Trade International ran over 30 specific US-focused events in the UK. A full programme is planned for 2000–01, specific examples being support for the largest group of UK biotechnology companies to visit the US Bio 2000 event in Boston; support for a visit to the UK by representatives of NASA to tell UK companies about the opportunities for them in the space and related industries; and an ongoing series of workshops on specific topics such as marketing in the US through the Internet, product liability and exhibiting at US trade shows.
As well as promotional work here in the UK, Her Majesty's Government also have 12 British Consulates across the US (including Denver, which will open shortly), where the commercial staff (now under British Trade International) are very active in UK export promotion, continuing to provide specific and
123WAtailored help to UK companies looking to export to the US as well as to identify specific sales leads from US companies that are made available to UK companies via the TradeUK website.