Foreign Payment Specialist Payment Providers dissects the UK's Import and Export figures from 2011

What are the top products imported and who are the UK's leading trading partners.

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Here at Payment Providers http://www.paymentproviders.co.uk/  import and export plays a major role in our business and future expansion and growth plans. So when the Guardian alongside HMRC published these figures of what is imported and exported from and to the UK it was a great insight for us. Looking at the latest figures the automotive industry showed a decline in UK car sales. They also shone a light on the UK's third biggest export - eight out of 10 cars built in the UK are exported. HM Revenue and Customs releases monthly figures for UK trade and we watch these figures like a hawk. 

According to the latest figures, the UK's biggest export in the year to date was nuclear reactors, boilers, machinery and mechanical appliances (including parts thereof). Mineral fuels, mineral oils and products of their distillation, bituminous substances and mineral waxes followed in second place, although incidentally it was also the most highly imported product in 2011 rising by 46% on the year.

Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof ranked as both third highest import and export. In the year to date (October 2011) the UK exported £23bn worth and spent £32bn on importing these items.

The United States received the most British export goods last year, followed by Germany and France. The top trade partner for imports was Germany, followed by the United States and China. The UK exported £31.7bn worth of products to the US.

Check out the tables below for top trading partners or download the spreadsheet for the full data on the UK's top exported and imported goods year on year.

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Top UK export countries

Rank	Country	Year to date 2011 (£m)	Year to date 2010 (£m)	% Change
SOURCE: HM REVENUE & CUSTOMS
1	UNITED STATES	31,712	30,894	2.7
2	GERMANY	27,539	23,502	17.2
3	FRANCE	18,905	16,542	14.3
4	NETHERLANDS	18,823	17,189	9.5
5	IRISH REPUBLIC	14,063	13,307	5.7
6	BELGIUM	12,949	10,835	19.5
7	ITALY	8,287	7,193	15.2
8	SPAIN	7,946	8,065	-1.5
9	CHINA	7,055	5,839	20.8
10	SWEDEN	5,103	4,504	13.3
11	INDIA	4,597	3,172	44.9
12	SWITZERLAND	4,400	4,063	8.3
13	CANADA	4,126	3,445	19.8
14	HONG KONG	4,120	3,464	18.9
15	RUSSIA	3,853	2,692	43.1
16	UAE	3,844	3,101	23.9
17	JAPAN	3,667	3,443	6.5
18	POLAND	3,655	2,999	21.9
19	AUSTRALIA	3,380	2,609	29.5
20	TURKEY	3,115	2,452	27.1
21	SINGAPORE	2,929	2,704	8.3
22	SOUTH AFRICA	2,836	2,201	28.9
23	NORWAY	2,732	2,390	14.3
24	SAUDI ARABIA	2,554	2,440	4.7
25	DENMARK	2,477	2,242

Top UK import countries

Rank	Country	Year to date 2011 (£m)	Year to date 2010 (£m)	% Change
SOURCE: HM REVENUE & CUSTOMS
1	GERMANY	41,107	37,812	8.7
2	UNITED STATES	25,076	25,574	-2
3	CHINA	24,828	23,172	7.1
4	NETHERLANDS	23,019	21,390	7.6
5	NORWAY	20,014	15,359	30.3
6	FRANCE	19,138	18,133	5.5
7	BELGIUM	15,729	14,054	11.9
8	ITALY	11,629	11,720	-0.8
9	IRISH REPUBLIC	10,436	10,421	0.1
10	SPAIN	9,094	8,350	8.9
11	JAPAN	6,998	6,220	12.5
12	SWITZERLAND	6,525	7,018	-7
13	RUSSIA	6,326	4,290	47.5
14	SWEDEN	6,289	5,282	19.1
15	HONG KONG	6,119	6,141	-0.4
16	POLAND	5,843	4,957	17.9
17	CANADA	5,208	5,483	-5
18	DENMARK	5,017	3,306	51.8
19	INDIA	4,954	4,560	8.7
20	TURKEY	4,498	4,141	8.6
21	QATAR	4,185	1,756	138.3
22	CZECH REPUBLIC	3,510	3,279	7.1
23	SINGAPORE	3,194	3,205	-0.3
24	TAIWAN	2,831	2,387	18.6
25	HUNGARY	2,516	2,593	-2.9

Payment Providers was incorporated to provide private and corporate clients a practical alternative to the bank, for foreign exchange services and International money transfers.  

Why is Currency Management So Important?

By using a bank it could cost you £3-4,000 per £100,000 transferred. Then included buying at the "wrong" time which could add many £'000's more as FX rates can move several % in a very short period of time. By utilizing Payment Providers International Payment service our strategies could minimize these extortionate charges, if not eliminated .  

  

To find out what you could be saving on your next international payment, call us now on +44 (0) 207 099 8377 or email info@paymentproviders.co.uk or to schedule a FREE call back click here

Amazon Properties buys Park Crescent

By Julia Cahill | 20-02-2012 | 17:00 | Estates Gazette

Luxury residential specialist Amazon Properties has bought half of the John Nash-designed Park Crescent opposite London's Regent's Park, W1.

Park Crescent

Amazon, run by Charles Gourgey and Chris Lanitis, have exchanged contracts with the Great Capital Partnership, the joint venture between Capital & Counties Properties and Great Portland Estates, on the £47m deal.

It is buying Park Crescent East, made up of 92/96 Portland Place, 98 Portland Place, 13/14 Park Crescent, 10/12 Park Crescent, 7/8 Park Crescent, 1/15 Park Crescent Mews East and 211 Great Portland Street. Gourgey said: "This is an iconic and prestigious acquisition to add to our growing portfolio of prime central London assets."

The Georgian town houses, which total just over 100,000 sq ft, generate an annual income of around £1.4m from office and residential tenants. They are held on a long lease from the Crown Estate, expiring in December 2157 at a current ground rent of £15,000 pa. Around 50,000 sq ft is subject to long leases with reversions between 2058 and 2157.

Current tenants include Adobe Systems Europe, the Secretary of State for Communities and Local Government, The Hale Clinic and International Students House.

Amazon has also bought 19 Bolsover Street, W1, from Hermes for circa £21m. The block comprises 31,4000 sq ft of office accommodation, but has potential for redevelopment as residential.

Lanitis said: "We have entered 2012 on a flying start, having concluded £70m of acquisitions we now have a central London development pipeline approaching £500m. We are strategically placed to take advantage of coming opportunities in 2012 with more than £150m of equity to our disposal."

Amazon was advised by CBGA on Bolsover Street and by Tudor Toone on Park Crescent.

Tudor Toone acted for Hermes on Bolsover Street.

julia.cahill@estatesgazette.com

UK Border Agency Tightening Controls

Global Movement of People and Goods is a Good thing?

UKBA and Government Immigration policies may be having unintended consequences for the global mobility of corporate workers. Public opinion regarding immigration (especially illegal immigration) has spawned a desire on the part of politicians to control our borders more effectively.

However the burden of tracking, monitoring and control of all migrants has been dumped at the door of HR departments of businesses of all sizes. Sponsorship is the name of the game now. And the sponsor carried all the responsibility. This quasi-draconian step will not affect the illegals at all - it's just a dark administrative solution that is being slowly introduced.

But possibly worse than this are the quota systems being imposed for the ever changing work clasification or SOC codes. Not only has the employer to keep these in check they also have to record everything about their migrant workers. Even the head of a corporate strategy team would be subject to controls reminisent of 1984.

Xenophobia and protectionism policies like these could strangle any chance of recovery and make global employee movement of key staff in and out of the UK extremenly difficult. And of coure the employer pays the price - which they have to absorb or pass on.

So to the UKBA I say "lighten up". John Burke
These are my own personal views and not necessarily those of Dolphin Movers Ltd

One Hyde Park shop for sale

By Annabel Dixon | Estates Gazette | Retail | 07-02-2012 | 

The last shop at the Candy brothers' One Hyde Park development, SW1, has been put up for sale.

Project Grande, the joint venture between Christian Candy's CPC Group and the prime minister of Qatar's Waterknights, is inviting offers for the virtual freehold for in excess of £21m - a 3.6% net initial yield.

The yield is predicted to rise to 4.35% and 4.99% with indexed reviews. The property is let to the first UK premises of Abu Dhabi Islamic Bank for a further 14 years at a rent of £800,000 pa.

The adjacent stores let to Rolex and McLaren have sold at net initial yields of 2.91% and 3.3%, respectively.

Candy Brothers Development

Project Grande has achieved more than £100m of sales at One Hyde Park in 2012, £60m of which has already completed. The last of the 11 five-bedroom apartments at the development sold last week for £60m.

At almost 9,000 sq ft, the five-bedroom apartments are the biggest units at One Hyde Park after the penthouses.

Edward Lewis, director of residential development sales for Savills, which advises Project Grande, said: "Over £1.5 bn of sales have completed already at One Hyde Park making it the most successful residential scheme in London and probably the world."

Shop Vacancies to Rise in the Regions

By Annabel Dixon | Estates Gazette | Retail | 07-02-2012 | 

Town centre vacancy rates stabilised at 14.3% during the second half of 2011 but they are set to rise again in 2012.

Closing Down Sales

According to the Local Data Company's latest Shop Vacancy report, Good and Bad News!, the stable vacancy rate during Q2 2011 hid wide differences. Prime centre core areas remain healthy but secondary centres are struggling as multiple retailers exit for large centres, out-of-town locations or as a result of business failure.

Weak consumer confidence, rising unemployment, the growth in retail sales by supermarkets and the internet, a rise in lease expiries and the uncertainty of the banking sector are all expected to prompt a rise in vacancy rates this year.

A significant majority of the high vacancy rates is found in the Midlands and the North in towns and cities including Stockport, Grimsby, Blackburn and Blackpool. The best-performing centres are mainly in the South and West. The best performer was St Albans, which has an 8.2% vacancy rate.

Matthew Hopkinson, director at the Local Data Company, said: "The reality is that the odds are stacked against a positive take-up of shops and as such the new reality of 48,000 empty shops is here to stay unless an alternative use or purpose can be found.

"Technology is driving consumer behaviour to a world of engagement, entertainment and the ability to shop where, how and when we like."

Liz Peace, chief executive of the British Property Federation, said: "Today's figures show that while some high streets are thriving, others remain locked in a spiral of decline. To turn these areas around will be difficult and will need landlords, retailers and local authorities to work closely together to adapt to changes in the way we shop.

"There are a number of proposals on the table for tackling declining town centres. Bringing empty shops back into use by allowing conversion to residential is one that could be implemented quickly and easily.