The US has become the most common trading partner for UK businesses, overtaking France and Germany, according to an HSBC survey. While the proportion of UK firms naming the US as one of their top three trading partners fell to 24% from 29% in 2018, the decline for Germany and France was much more pronounced, both dropping by almost half to 74% and 15%, respectively. While political and economic uncertainty is affecting European trade, 86% of the more than 1,000 UK companies surveyed were positive about the trade outlook, up from 16% a year ago.
The US has become the most common trading partner for UK businesses, overtaking France and Germany, according to an HSBC survey. While the proportion of UK firms naming the US as one of their top three trading partners fell to 24% from 29% in 2018, the decline for Germany and France was much more pronounced, both dropping by almost half to 16% and 15%, respectively. While political and economic uncertainty is affecting European trade, 86% of the more than 1,000 UK companies surveyed were positive about the trade outlook, up from 74% a year ago.