Providing financial services to the world

Exports from UK financial services and insurance firms amounted to £79bn in 2019 and generated £59bn of trade surplus, according to new data published in the ONS Pink Book. 

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, accounting for close to 60% of UK’s services trade surplus.

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.

At the end of 2019, foreign direct investment (FDI) stock in UK’s financial services was valued at £433bn, accounting for 28% of all FDI stock in the UK. Through sharing and developing our financial services expertise, the UK can continue to build and strengthen trade and investment links across the world.

The UK’s success as an international financial centre depends on remaining open to trade and investment from around the world.

Watch the accompanying webinar, hosted with Innovate Finance.