Austria is situated in the heart of Europe. One of Europe’s wealthiest nations, Austria is a promising market for UK companies, especially for high quality products or services.
Belgium is an affluent and multicultural country in the centre of Europe. It has a strong and longstanding trading relationship with the UK and is our 8th largest trading partner. English is an accepted business language and for many UK companies Belgium is just a short train ride away.
Situated at the heart of the Central and Eastern European (CEE) region, Bosnia and Herzegovina is showing signs of a sustained economic recovery, with increasing affluence creating opportunities for UK exporters. Continued growth is expected to come from public investment in transport infrastructure, exports, use of EU funds, and private investment.
In the year to December 2019, total UK exports to Bulgaria amounted to £953 million (ONS, 2020). Amongst the top UK goods exports by value were specialised machinery, beverages, medicinal and pharmaceutical products, clothing and general industrial machinery. UK companies active in the market include Shell, GSK, JCB and Mott McDonald.
Croatia occupies a strategic location at the heart of Central and Eastern Europe. Its economy is gaining strength and it offers a market with significant growth potential.
Cyprus has a population of approximately 1 million people and is the UK’s 56th largest export market (IMF, 2019). In the year ending June 2019, total UK exports to Cyprus amounted to £1.2 billion, which was an increase of 13.2% compared to the previous year (ONS, 2019). During this time the top 5 goods exported from the UK to Cyprus were cars, clothing, ships, aircraft and beverages (ONS, 2019).
The Czech Republic is the UK's 27th largest trading partner (ONS, 2019). In the year to June 2019, the total trade in goods and services between the UK and the Czech Republic was £9.9 billion, an increase of 0.8% on the same period the previous year (ONS, 2019).
Denmark has a wealthy, educated and open economy, receptive to UK products and investments. The Danes are sophisticated buyers with a good reputation for paying suppliers on time. Denmark is the top country in Europe for ease of doing business, and is ranked 4th highest in the world.
Estonia is a Northern European hub for industrial, supply chain and global business services. It is a world leader in information technology. Estonia is an easy place to do business and grow your business. Estonia has produced four 'unicorn' companies: Transferwise, Skype, Playtech and Taxify. For UK exporters who need local employees, Estonia has a hardworking, well-educated and skilled workforce.
Faroe Islands are located in the North Atlantic Ocean and comprises 18 islands. In the year to June 2019, the total trade in goods and services between the UK and Faroe Islands was £287 million and the total exports from the UK was £50 million.
Finland has an affluent, highly educated and technologically sophisticated population. British quality products are well received and UK brands are well known in the country. Total trade in goods and services (exports plus imports) between the UK and Finland was worth £5.7 billion in the year leading up to the end of March 2019 (ONS, 2019).
In easy reach of the UK, France is the UK’s fourth-largest export market (ONS, 2019) and the world’s sixth-largest economy (World Bank, 2019). For UK businesses offering innovative, quality products, the country offers many export opportunities.
Germany is the world’s fourth largest economy (World Bank, 2019) and the largest economy in Europe. It is highly industrialised, diverse and stable, offering long-term potential and many opportunities for UK businesses offering innovative, quality products.
Greece and the UK enjoy a close and long-standing relationship. Today, the two countries benefit from flourishing international trade. The total trade in goods and services (exports plus imports) between the UK and Greece was £6.6 billion in the year up to the end of June 2019 (ONS, 2019). This was an increase of 3.1% (or £200 million) during the same period in the previous year (ONS, 2019).
Hungary is a high-growth business hub in the heart of Europe. It has a population of almost 10 million and a motivated workforce. As well as a favourable geographical location, Hungary offers a modern, liberalised business environment with a strong legal system.
Iceland is an island country in the North Atlantic, with a population of over 360,000. In the year up to March 2019, total UK exports to Iceland amounted to £604 million, making it the UK's 76th largest export market.
Italy is one of the UK’s closest trading partners and biggest export markets, and presents significant opportunities for UK businesses. There is demand for defence, cyber security, aerospace and engineering skills. Trade with the city of Milan and the surrounding region is especially strong.
Latvia was the 5th fastest growing economy in the EU in 2018 (Eurostat, 2020). Rapid economic growth has been driven mainly by an increase in investment and private consumption. High-quality British products are well received and the UK brand is immediately recognised. It’s an ideal starter market for UK companies new to exporting.
In the year to March 2019, total UK exports to Liechtenstein amounted to £124m, an increase of 26.5%, or £26m, compared to the previous period.
Located at a crossroads between Northern, Central and Eastern Europe, Lithuania is politically stable and has enjoyed continuous economic growth (IMF, 2019). Its economy is small but diverse, with established manufacturing and agricultural sectors and growing technology and service sectors.
Luxembourg is located in Western Europe and has a population of 600,000 people (ONS, 2019). It is landlocked, and bordered by Belgium, France and Germany. Despite the relatively small size of the country, the UK exported goods and services with a value of £4.8 billion to Luxembourg in the year to the end of June 2019, an increase of 3.6% compared to the previous year (ONS, 2019).
The UK is Norway’s largest trading partner. Total trade between the 2 countries was worth £26.3 billion in 2019. Norway supplies 40% of the UK’s energy needs and 48.8% of the UK’s exports to Norway are services (Office for National Statistics, 2020).
The UK and Poland continue to enjoy a strong trading relationship. Poland is the UK’s 14th largest trading partner. In the year to June 2019, the total trade in goods and services between the UK and Poland amounted to £21.8 billion, an increase of 4.6% or £969 million compared to the previous year.
Portugal is located in the western part of the Iberian Peninsula. Bilateral trade is strong, anchored on the world’s oldest bilateral alliance and strong links through diaspora communities and tourism. The UK is Portugal’s fourth biggest export market, and in the year to December 2019 total UK exports to Portugal amounted to £3.2 billion (ONS, 2020).
Romania is located in South East Europe at the strategic crossroads of the European Union (EU), the Commonwealth of Independent States (CIS) and the Middle East. In 2019, the total trade between the UK and Romania was £5.8 billion and total exports from the UK were £2.4 billion. Romania is the UK’s 40th largest trading partner (ONS, 2019).
Russia is the world’s largest country (Statista). It has abundant natural resources, well-developed infrastructure, high-tech production and a diverse range of industries supplemented by state-supported business incentives.
Serbia is a landlocked country at the crossroads of Central and Southeast Europe, with a population close to 7 million people (IMF, 2019). It was the UK's 88th largest trading partner in the year up until June 2019 (ONS, 2019).
Slovakia combines a stable economic and political environment with a strategic geographical location. English is widely spoken as a business language, and several large UK companies operate in Slovakia.
Slovenia is one of a group of nine emerging markets in Central and Eastern Europe (CEE). It's one of the most developed markets in the region and there are long-term growth prospects for UK companies.
Spain, located in Southwestern Europe with borders to France and Portugal, has a population of 46.4 million, providing a large consumer base for UK exporters to sell to (IMF, 2019). Benefits for UK exporters include Spain’s familiarity with British products, efficient transport systems and access to Latin America.
Sweden is among the most competitive, innovative and globalised nations in the world. The country has a stable economy, a skilled labour force and sophisticated consumers.
An innovative country at the heart of Europe, Switzerland has a stable and reliable business, legal and regulatory environment. It is one of the UK’s closest trading partners. British companies of all sizes are trading there, and UK investment is particularly substantial in the services and manufacturing sectors.
The Netherlands has a thriving economy and is a major gateway to Europe. It is culturally similar to the UK, making it an ideal test market for products. In 2018, it made up 6.9% of all UK exports.
Turkey is a large and fascinating market with plenty of export opportunities for UK exporters. It is home to both large multinationals and local businesses with a strong entrepreneurial culture. Despite Turkey’s recent political and economic challenges, the country’s prospects are positive and there is room for growth.
Strategically located at a crossroads for the European, Russian and Asian markets, Ukraine offers a large and developed consumer base, a highly educated workforce, low labour costs and abundant natural resources.