McKinsey: Brexit: The bigger picture—Revitalizing UK exports in the new world of trade

UK companies can navigate shifts in global trade patterns by focusing on fast-growing services and digital trades, redoubling efforts in emerging markets, and digitizing their supply chains.

 
Τrade and exports have always been critical engines of the United Kingdom’s economy. Today, however, global trade patterns are shifting dramatically, with Brexit being just one element in a changing landscape. In this article, the first in a series by McKinsey’s United Kingdom and Ireland office, we consider how UK companies can best navigate those shifts and build fast-growing, agile businesses. We draw on recent research by the McKinsey Global Institute (MGI) and other colleagues at McKinsey, as well as on the experience of some of the United Kingdom’s most successful businesses.

Our message is clear: it is time to stop waiting for the uncertainty about Brexit to disperse. Whatever the outcome, there are global megatrends at play that need attention now. To sustain and sharpen international competitiveness, UK businesses must seize opportunities in the fast-growing services and digital trades, intensify efforts in emerging markets, and reconfigure supply chains to take advantage of new technologies.

Brexit: The bigger picture—Revitalizing UK exports in the new world of trade