Britain’s exported services grew in value by 3% since 2013 and appreciated 5.8% from 2016 to 2017.
United Kingdom’s Export Services by Category
Below are services exported by the UK in 2017 listed by category and in order starting with highest dollar values. Ten of these categories are considered commercial services and are worth 99% of all exported services from Britain. UK government goods and services account for the remainder.
- Miscellaneous business services: US$109.1 billion (31.1% of UK total)
- Financial services: $83.2 billion (23.7%)
- Travel: $43.8 billion (12.5%)
- Transport: $37.8 billion (10.8%)
- Telecom/computer/information services: $25.6 billion (7.3%)
- Insurance/pension services: $19.3 billion (5.5%)
- Intellectual property use: $16.9 billion (4.8%)
- Personal, cultural, recreational services: $4 billion (1.1%)
- Government goods, services: $3.3 billion (1%)
- Manufacturing services on other’s inputs: $2.9 billion (0.8%)
- Maintenance/repair services: $2.6 billion (0.7%)
- Construction: $2.2 billion (0.6%)
The fastest-growing category for the United Kingdom was exported miscellaneous business services via a 22.1% increase from 2013 to 2017. In second place was maintenance or repair services (up 20.7%) trailed by telecommunications, computer and information services (up 7.9%), transportation services (up 3.7%), financial services (up 3.3%) then personal, cultural and recreational services (up 0.3%).
The four leading decliners over the 5-year period were construction services (down -37.5%), insurance and pension services (down -37.3%), manufacturing services on other’s inputs (down -27.9%) then government goods and services (down -17.8%).
United Kingdom’s Export Services by Top Trade Partners
Back in 2016, the United Kingdom provided export services to 205 geographic entities including countries, islands or territories. The largest of these trading partners was the European Union, which consumed over a third (36.8%) of United Kingdom’s overall exported services for the year. That percentage compares with 54.3% for all of Europe.
The following list highlights the top 20 countries (or territories) that imported the highest value of services furnished by the UK. Together, these 20 trading partners received 71.4% of UK services provided to international clients.
- United States: 21.3%
- Germany: 6.5%
- France: 5.6%
- Switzerland: 5%
- Netherlands: 5%
- Ireland: 3.8%
- Japan: 3%
- Italy: 2.9%
- Sweden: 2.5%
- Spain: 2%
- Australia: 1.8%
- Belgium: 1.6%
- Gibraltar: 1.6%
- Canada: 1.4%
- China: 1.4%
- Denmark: 1.3%
- United Arab Emirates: 1.3%
- Kazakhstan: 1.1%
- Singapore: 1%
- Norway: 1%
Britain’s top trading partners posting double-digit gains in their purchases of UK export services from 2013 to 2016 were Gibraltar (up 144.7%), Kazakhstan (up 113.7%), Japan (up 24.5%), Sweden (up 21.2%) and Belgium (up 12.2%).
See also World’s Top Export Services, World’s Top Exports Report Card for Products and Countries and Report Card for Trade Surpluses and Deficits by Country
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on February 16, 2019
International Trade Centre, Trade Map, International Market Analysis. Accessed on February 16, 2019
The World Factbook, Field Listing: Exports, Central Intelligence Agency. Accessed on February 16, 2019