Office for National Statistics (ONS) figures show demand for British services continues to grow, as exports swelled to £286 billion in the year to 2018 Q2.

The data indicates UK service exports to the world rose by almost £19 billion – an increase of 6.9% compared to the same time last year.

Figures released today (24 October 2018) reflect an increase in exports to important trading partners including USA, Australia and South Korea.

The latest services surplus in the year to 2018 Q2 has also reached a new high, increasing to £117 billion – up 11.3% on last year. Other main points from today’s release include:

• Service exports to Non-EU countries have increased by 4.5% to 167 billion. A fast-growing contributor was South Korea where the total value of exports in services increased to £2.4 billion.
• The USA remains the UK’s top services destination, with exports increasing to £59 billion, accounting for 20.6% of total exports.

International Trade Secretary Dr Liam Fox MP said:

Today’s trade figures show demand for UK services overseas continues to soar. Overall services exports have risen to £286 billion – up 6.9% on this time last year, while the trade services surplus has also increased to £117 billion.

There is clear appetite for British services further afield, as the US and Far East offer some of the greatest growth prospects of the 21st century. As we formulate an independent trade policy for the first time in more than 4 decades, my international economic department will continue to make sure British companies are not only seizing these opportunities, but also thriving from them.

The news comes after the launch of the government’s Export Strategy, which sets out a new ambition to increase exports as a proportion of UK GDP to 35%, making the UK one of the G7’s most successful exporters.

A Downing Street spokesperson said:

The Prime Minister spoke to King Salman today (24 October) to reiterate the UK’s grave concerns about the murder of Jamal Khashoggi in the Saudi consulate in Istanbul.

The Prime Minister said the current explanation lacks credibility so there remains an urgent need to establish exactly what happened. She strongly urged Saudi Arabia to cooperate with the Turkish investigation and to be transparent about the results. It is important that the full facts are established.

The Prime Minister also reiterated that all individuals bearing responsibility for the killing of Mr Khashoggi must be properly held to account.

She said the Home Secretary is taking action against all suspects in the murder of Mr Khashoggi to prevent them entering the UK. If these individuals have visas, they are being revoked.

A Downing Street spokesperson said:

Prime Minister Theresa May met with Czech Prime Minister Andrej Babiš this afternoon in Downing Street for bilateral talks. The visit came as the Czech Republic celebrated its independence centenary, marking the foundation of Czechoslovakia.

The two Prime Ministers reflected on the strength of the bilateral relationship and the importance that this continues after the UK leaves the EU. They noted their close cooperation on defence and security matters, and on trade. Prime Minister May thanked Prime Minister Babiš for his support following Salisbury and offered her condolences on the death of a Czech soldier in Afghanistan on Monday.

Prime Minister May offered an update on Brexit negotiations, outlining work being done to finalise the withdrawal agreement and agree an ambitious future partnership.