Global exports of UK services have seen an increase according to recent figures. Reinforcing the strength in demand for its services sector.
The data comes from the third quarter of 2018, where growth in exports was seen to continents worldwide as follows:
- America – grew by 2.6 per cent to £74.6 billion.
- Asia – grew by 1.9 per cent to £42.1 billion.
- Europe – grew by 1.7 per cent to £149.4 billion.
- Australasia & Oceania – grew by 1.1 per cent to £7 billion.
More specifically, the largest amount of exports went to the US – a massive £62.7 billion, with a trade surplus of £33.4 billion. The largest growth was seen in exports to Asian countries South Korea – which grew by 43.8 per cent to £3.3 billion – and Taiwan – which grew by 30.1 per cent to £1.1 billion.
Demand for the UK’s financial services rose most prevalently with a growth of 3.9 per cent to £60.9 billion – again, the US received the largest amount of this export at £14.5 billion, which is a 4.1 per cent growth since the year prior.
Recent reports have shown that the UK is the most popular country in Europe in regards to foreign direct investment. The United Nation corroborated this report, stating that investment in the UK grew by over £16 billion between 2017 and 2018.
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