All UK regions exporting more goods than last year, trade figures show

The Irish Republic is the biggest buyer of goods from Northern Ireland - AFP

Exports of goods have risen in every region of the UK since last year, in what will be a welcome sign for the Government as it attempts to tackle a record high current account deficit.

Figures released by HM Revenue & Customs on Thursday showed that, in the year to September, England exported 14pc more goods than a year earlier, reaching £241.1bn, while Scotland's goods exports rose by 19.9pc to £28bn.

Exports of goods in Wales rose by 18.9pc to £16.4bn and Northern Ireland's by 13.3pc to £8.5bn.

Should exports continue to rise, they would provide a much-needed boost to the UK, which has the largest current account deficit of any country in the G7, at 5.9pc of gross domestic product at the end of 2016. The UK must increase exports and investment abroad in order to bring this deficit down.

Liam Fox, the International Trade Secretary, last month faced criticism after claiming that businesses were not doing enough to sell overseas.

In an interview with The House magazine, Dr Fox said the UK needed "more of our companies to think about exporting overseas".

"I can agree as many trade agreements as I like, but if British business doesn't want to export, then that doesn't do us any good."

However, in a statement on Thursday, he said that now "every part of the UK is benefitting from increased trade with the world". 

According to HMRC, the US was the top buyer of goods from the UK. The Irish Republic, meanwhile, was the biggest buyer of goods from Northern Ireland, with the most recent data set showing goods account for around 81pc of exports to the Republic.

There is currently a deadlock between the Democratic Union Party and the Conservatives over the future status of the Irish border.

The DUP is arguing Northern Ireland should not be granted "special status", which would mean it effectively remaining in the EU single market and customs union, saying this would be contrary to the Good Friday Agreement.

However, Theresa May has promised there will be no "hard border" between Northern Ireland and the Republic of Ireland, for which there must be “regulatory alignment” across Ireland, and has until Sunday to present the European Union with a solution.