Exports from UK financial services and insurance firms soared to a record high of £82bn last year, up from £78bn in 2017, according to new data published in the ONS Pink Book.
The UK’s financial services and insurance trade balance also increased from £61bn to £63bn in 2018. And these figures also show that financial services is a major driver of the UK economy – this is by far the largest trade surplus of any other UK service industry.
The success of UK financial services and insurance firms in exporting across the globe plays a vital role in balancing the UK’s trade deficit and helps to support jobs around the country.
The UK’s success as an international financial centre depends on remaining open to trade and investment from around the world.
Through sharing and developing our financial services expertise, the UK can continue to build and strengthen trade and investment links across the world.
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