The UK’s reputation as a leader in the tech sector has been emphasised by the growth of international trade enjoyed by pioneering digital firms.
At a time when the government is putting steps in place to encourage companies to harness new technology to grow their businesses, the news in growth of international trade is welcome and strengthens the claims by Cabinet ministers that the UK’s tech sector is in demand all over the world.
According to figures from the Department for Digital, Culture, Media and Sport (DCMS), the value of exports from the digital sector resulted in an “unprecedented” level of year on year growth.
In 2016, the digital sector exported in excess of £39 billion worth of services, which is well up from £32 billion a year before; this equates to an increase of 21.8% and confirms Britain’s place is secure when looking to seize future trading opportunities regarding technology.
And Digital Secretary, Matt Hancock, believes this shows the environment created will ensure British companies thrive at taking advantage of trading opportunities emanating from technology.
He said: “These new statistics show our tech sector is in demand from businesses and consumers around the globe, with exports up by a fifth.
“We are working hard to create the right environment for them to thrive and alongside the huge innovation of the private sector, are determined to seize all the future opportunities technology will bring.”
The exporting of goods in the digital sector, was also strong. These figures are based on the types of products rather than business activity.
The likes of software, manufactured electronics and computers performed well, contributing to a 7.3% rise in exports of goods within the digital sector, which is worth more than £15 billion.
The support from the government through the likes of the £1 billion tech sector deal that will grow artificial intelligence, as well as the Tech Nation initiative, will ensure the technology sector in the UK continues to grow and thrive.