UK aims to boost exports to 35% of GDP, but no timeframe

Liam Fox, the UK’s trade minister, is reportedly targeting an export boom post-Brexit. According to Market Screener, Mr Fox says he would like to see the country’s exports grow to such a level that they would account for 35% of GDP. However, while setting the bold target, Mr Fox failed to give any specific timeframe on when this surge in growth would be achieved. In 2012, then-chancellor George Osborne was eyeing doubling exports to $1.28trn by the end of the decade – a target that looks like being missed by several hundred billion.