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Highlights
- UK plans to boost annual exports to £1 trillion by the end of the decade.
- To support the UK companies in the global markets, the Government has launched ‘The Made in the UK, Sold To The World’ plan.
- Under the 12-point plan, government agencies would support UK exporters in securing business by providing them with new services.
The Boris Johnson government has recently announced its plans to boost the annual exports of the country from around £600 billion last year to £1 trillion by the end of the decade. To support the UK companies in the global markets, the Government has launched ‘The Made in the UK, Sold To The World’ plan. This plan was much needed as only around 10% of British firms trade overseas as of now.
It is very important for the companies to fully utilise their exporting potential, according to Anne-Marie Trevelyan, the International Trade Secretary. Thus, under the 12-point plan, the agencies running under the UK Government, like UK Export Finance, would support UK exporters in securing business by providing them with new services. A new UK trade show programme will also be initiated to provide UK companies with the opportunity to present their products at global events.
The UK Government is focusing on increasing exports as other developed countries have been making a speedy recovery from the negative impact of Covid-related restrictions on businesses and trade. However, it didn’t mention Brexit as a reason. Exporting to EU will be difficult for the UK under the new free trade deal and its exports to EU may fall by around 15% in the long term, as per the Office for Budget Responsibility. Thus, the full export potential of the country will be realised only if EU, UK's largest export market, isn’t overlooked.
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The UK is a leading exporter of pharmaceuticals, mineral fuels, gems and precious metals, machinery, and vehicles etc.
Let’s take a look at some of the UK export companies which are major international trade players.
GlaxoSmithKline plc (LON: GSK)
GlaxoSmithKline plc is a leading healthcare company with global footprint. The current market cap of the FTSE100-listed company stands at £78,394.78 million. It has given a return of 8.03% in 1 year. Its 5-year average dividend yield is 5.4%. GlaxoSmithKline plc’s shares were trading at GBX 1,558.20 at 8:08 AM on 17 November 2021 (GMT).
Johnson Matthey PLC (LON: JMAT)
Johnson Matthey PLC produces chemicals and sustainable technologies for the companies worldwide. The current market cap of the FTSE100-listed company stands at £4,513.20 million. It has given a negative return of 10.48% in 1 year. Its 5-year average dividend yield is 2.5%. Johnson Matthey PLC’s shares were trading at GBX 2,323.00 at 8:09 AM on 17 November 2021 (GMT).
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Rio Tinto plc (LON: RIO)
Rio Tinto plc’s current market cap of the FTSE-100 listed company stands at £55,580.44 million and it has given a negative return of 6.87% in 1 year. Its 5-year average dividend yield is 5.6%. Rio Tinto plc’s shares were trading at GBX 4,431.50 at 8:10 AM on 17 November 2021 (GMT).
Mondi Plc (LON: MNDI)
Mondi Plc is a prominent supplier of packaging and paper products worldwide. The current market cap of the FTSE100-listed company stands at £8,948.76 million. It has given a return of 7.09% in 1 year. Its 5-year average dividend yield is 3.0%. Mondi Plc’s shares were trading at GBX 1,829.50 at 8:11 AM on 17 November 2021 (GMT).
Smith & Nephew plc (LON: SN)
Smith & Nephew plc, or Smith+Nephew, supplies medical equipment across the globe. Its current market cap stands at £11,611.06 million. It has given a negative return of 12.42% in 1 year. Its 5-year average dividend yield is 1.9%. Smith & Nephew plc’s shares were trading at GBX 1,322.00 at 8:12 AM on 17 November 2021 (GMT).