According to Tech Nation’s Unlocking Global Tech (1) report, released in September, the UK’s digital tech exports in 2019 totalled £23.3 billion. Moreover, this figure is projected to grow by more than £8 billion over the coming five years to reach £31.45 billion by 2025.
These “digital tech exports” include software services, telecoms, tech consultancy, ecommerce and cybersecurity. And positively for the UK economy, the country’s tech trading surplus, which currently stands at 55%, increased by 68% between 2015 and 2019 – rising from £8.7 billion to £12.8 billion.
The report underlines the UK’s position as one of the world’s digital powerhouses. It also demonstrates the importance of reducing trading friction for tech companies, particularly small and medium enterprises (SMEs), that want to expand into global markets....