Home Business News London exports hit £37.4bn in 2018

London exports hit £37.4bn in 2018

by Mark Fitt Political Journalist
19th Mar 19 12:04 pm

Exports to the Netherlands from London increased significantly in 2018 when compared to 2017, jumping almost 35% (34.1%) to £2.94bn. One London-based business that’s tapped into increased demand from the US in 2018 is Quimera Energy Efficiency, which helps hotels save energy and reduce operational costs through sustainable technology, having recently secured a seven-figure export win to the US.

The business will now see its systems installed in all three Marriott hotels operated by the MDM Hotel, and expects to see total revenue increase by 200% to more than £2.6m as a result of growing overseas prospects. 

The department for international trade (DIT) has been supporting businesses such as Quimera Energy Efficiency in the region as part of the Exporting is GREAT campaign, the UK government’s cross-department initiative to showcase UK businesses overseas and to help them export.

To aid their export growth, the businesses have worked with local DIT International Trade Advisers (ITAs), who have helped them identify potential new partners in key overseas markets, supported their attendance at overseas trade shows, and offered insight into business etiquette in certain markets.

Parveen Thornhill, DIT’s head of exports in the London said, “British-made goods are globally renowned for being of high-quality and excellence, and it’s encouraging to see growing demand from international clients for products from the capital, particularly in Europe and the US.

“Establishing an international footprint is essential to the success of any business, and making a name for yourself overseas will ensure you are more resilient, profitable and ultimately more successful, which is great news for the local economy.

“Overseas opportunities are out there for ambitious firms and we’ve got a team of dedicated trade advisors to guide companies throughout the whole exporting process. I’d urge businesses looking for support to get in touch.”

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