The PPA Export Statistics Report: 2004-2007, which was commissioned by the PPA's Export Advisory Group (EAG), found that export supply, sales and net revenues grew by 1.1%, 3.9% and 10% respectively during the period.

The report, which named Europe, the Middle East and Africa as the UK's strongest overseas magazine market, claimed that the export market was an area of untapped potential for many publishers.

PPA EAG chairman Bill Palmer said: "With many UK circulations suffering from continued levels of decline, compounded by falling advertising revenues and rising print costs, export represents an additional source of revenue and potential that many have yet to fully realise.

"No matter how challenging the domestic market may be, there is always an overseas market that is bucking the trend or has unrealised potential."

The PPA cited the strength of UK magazines and the weak pound as two reasons for publishers to review their export strategy.

The report found that Australia and the US were the UK's top performing export markets, followed by Spain and Canada.