The value of art and antiques exported from the UK rose by 24 percent to £6.8 billion in 2018/19, according to HMRC statistics.
This is an increase from £5.5 billion in 2017/18, private wealth law firm Boodle Hatfield stated.
The firm suggested this rise in UK exports is due to demand from the US fuelled by a weaker sterling against the dollar, enabling US collectors to purchase art more cheaply than before.
Exports from the UK to the US have increased by £1.2 billion in the last year to £4.1 billion, meaning the US now accounts for 54 percent of all art exported from the UK.
Additionally,...