UK tech sector sees “unprecedented” growth

Trade within the UK’s tech and digital sector grew by 20 per cent between 2015 and 2016, according to official figures.

The Department for Digital, Culture, Media and Sport (DCMS), which published the report, found that the industry exported more than £39 billion in services in 2016, up from £32 billion in 2015.

This represents year-on-year growth of around 21.8 per cent – described by the DCMS as “unprecedented”.

Exports of physical goods within this sector, such as software and manufactured electronics and computers rather than computer programming, consultancy and information services, were also strong, according to the report.

The figures show that trade in this subset increased by 7.3 per cent over the same period, worth some £15 billion to the economy.

The report follows a recent announcement that the Government plans to invest almost £1 billion to support the sector through competitive tax reliefs and Government-funded research and development (R&D).

Digital Secretary Matt Hancock: “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.”

Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInEmail this to someone

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Make an enquiry

What is your name?*

What is your post code?*

What is your phone number?*

What is your email address?*

How did you hear about us?

Brief message

*Mandatory fields

 I am happy to receive newsletters and promotional information from Hethertons Solicitors.

If you would like to see full details of our data practices please visit our Privacy Policy.