| answer text |
<p>Our ambition, set out in the Export Strategy in November 2021, is for the UK to
achieve £1 trillion exports per year by 2030. The latest Office for National Statistics
figures show that UK exports were £758.5bn in the 12 months ending October 2022.</p><p>
</p><p>Extrapolations of the Office for Budget Responsibility forecast suggest £1
trillion exports could be achieved by around 2035 without additional intervention.
We recognise the speed by which the UK reaches this milestone will be impacted by
macro-economic factors such as global demand and exchange rates. This has proven to
be the case over the past year where we have experienced external shocks and a spike
in inflation.</p>
|
 |
