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<p>On an annual basis UK exports continue to grow faster than UK imports, with ONS
figures showing the overall trade deficit narrowing by £5.0bn, from £30.9bn in 2016
to £25.9bn in 2017. Internationally comparable data from UNCTAD shows the UK has the
lowest trade deficit amongst G8 nations for energy goods, the third highest trade
deficit for manufactured goods, and the second highest trade deficit for food products.</p><p>We
recently launched the government’s new export strategy that sets out a new offer to
help boost exports, informed by engagement with businesses across the UK. Our ambition
is for the UK to be a 21st century exporting superpower, by raising exports as a percentage
of GDP from 30% to 35%, towards the top of the G7 by this measure.</p>
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