Skip navigation

Gloucestershire Business News

UK food and drink trade tops pre-pandemic levels

Exports and imports of food and drink with non-EU countries have soared above pre-pandemic levels for the first time, according to research by the Food and Drink Federation (FDF).

The FDF's Trade Snapshot examines the latest developments in the UK's exports and imports of food and drink in the first quarter of 2022.

The research found:

• Food and drink imports have recovered very well, and are over 13 per cent higher than in 2019, while exports to major markets including the USA, Australia, Canada, Japan and the UAE exceeded pre-pandemic levels.

• Canada is a key source of ingredients used by UK manufacturers and imports rose five per cent, while exports to the country were up 26 per cent on pre-pandemic levels.

• Exports to India are more than 25 per cent higher than before the pandemic and India remains a large import partner - particularly for agricultural goods - accounting for £172.5m.

With the UK-Japan trade agreement coming into force in 2021, and others on the horizon including Australia and New Zealand, the FDF expects even bigger growth in food and drink exports.

Both Canada and India are currently in negotiations with the UK Government over ambitious free trade deals and represent major export opportunities.

India presents major opportunities for UK exporters. Demand is booming in the country in the health, organic, fortified and ready-to-eat packaged food sector.

One unknown for the industry remains the impact of the war in Ukraine, with energy price rises and supplies of certain key ingredients - including vegetable oils, cereals and white fish - under pressure.

Dominic Goudie, the Food and Drink Federation's head of international trade, said: "Trade plays a key role in boosting the UK economy, with high exports ensuring food and drink companies can thrive and imports offering shoppers in the UK a wide range of quality products at prices they can afford.

"This is particularly important now, at a time of soaring costs to businesses and consumers, that the UK utilises trade as deflationary weapon."

Nicola Thomas, Food & Drink Exporters Association director, said: "Having a sales portfolio spanning multiple global markets not only makes a business potentially less vulnerable to changes in the UK economy, but any losses caused by a crisis or stagnation in one country or region also stand a much better chance of being balanced out by a presence in others."

Related Articles

SIGNED OFF: Sale and expansion at prominent Gloucester business hub Image

SIGNED OFF: Sale and expansion at prominent Gloucester business hub

Wulff Capital Holdings said it has gained an "excellent foothold" into the city's market

Historic Cotswold pub up for grabs Image

Historic Cotswold pub up for grabs

16th century Lechlade inn on the market.

Invest in Gloucestershire celebrates another win Image

Invest in Gloucestershire celebrates another win

A New Zealand-based business is set to open a new headquarters in Cheltenham.

CyNam awarded funding to improve collaboration  Image

CyNam awarded funding to improve collaboration

CyNam has been awarded funding for the prestigious Barclays Eagle Labs Ecosystem Partnership Programme.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.