Business insights and impact on the UK economy - 8 May 2025

8th May 2025

In late April 2025, 22% of businesses with 10 or more employees reported that they had exported goods, services, or both in the last 12 months; of these businesses, 19% reported that they exported more in March 2025 compared with March 2024, while 23% exported less.

Of those that had exported, 36% of businesses with 10 or more employees reported that the cost of exporting in March 2025 was higher than in March 2024; this is up 7 percentage points from December 2024.

In late April, 26% of businesses with 10 or more employees reported that they had imported goods, services, or both in the last 12 months; of these businesses, 18% reported they had imported more in March 2025 compared with March 2024; this is up 5 percentage points from December 2024 and the largest proportion reported since March 2023.

Of those that had imported, 40% of businesses with 10 or more employees reported that the cost of importing in March 2025 was higher than in March 2024; this is up 7 percentage points from December 2024 and the largest proportion recorded since June 2023.

In late April, 17% of businesses with 10 or more employees reported that they expect to be impacted by the United States tariffs in the next month; the most reported expected impacts were reduced demand and having to pass on additional costs to customers, both at 7%.

Read the full ONS report HERE