Exports from small to medium-sized enterprises (SME) in the UK are performing very strongly having a positive impact on the wider economy by helping to narrow the trade deficit, according to new data. 

The second annual FedEx Great British Export Report shows that the average SME exports £553,000 worth of goods and services a year to Europe.

Some £535,000 is imported, creating an average net surplus of around £18,000 for SMEs exporting to Europe. 

An estimated £714,000 of exports outside Europe are made by SMEs, but imports stand at just £410,000, leading to an average net benefit of £304,000 for SMEs exporting worldwide. 

Vice-president of northern Europe operations for FedEx Express Trevor Hoyle said: "The report shows that SMEs recognise how lucrative exporting can be for their business and as a result more are going global, actively helping to reduce the deficit."