Author: Great Britain: National Audit OfficePublisher: The Stationery Office
ISBN: 9780102986198
Category : Business & Economics
Languages : en
Pages : 48
Book Description
The 2012 Budget, announced the 'ambition' to double the value of exports by 2020 to £1 trillion a year. However current performance has been flat over the last two years and, to meet the Government's ambition, exports will have to grow by 10 per cent year on year. Many factors which affect export performance are outside the control of the FCO and UKTI, such as exchange rates and political and economic changes overseas. While the UK outperforms Germany, France and Italy in the Gulf, it has not traditionally performed as well in many other emerging markets, such as Russia, Brazil, Turkey and China. Success here is essential if the Government is to meet its target. There is a joint UKTI-FCO Board to oversee coordination of their work overseas but currently there is no further joint accountability for planning, monitoring and delivery against their goal. Their initial responses to the government's objectives have not been sufficiently coordinated. UKTI is now increasingly looking to measure actual business outcomes rather than volume of activity. Among the NAO's recommendations is that the FCO improve how it measures and monitors the impact of its activities supporting exports so that it can demonstrate that its spending of some £420 million a year yields tangible results. UKTI is piloting the use of external business partners to provide some of its services, and needs to implement lessons from the evaluation of its pilot initiative to use external partners if it decides to roll it out