Overview: In 2019 United Kingdom was the number 6 economy in the world in terms of GDP (current US$), the number 10 in total exports, the number 4 in total imports, the number 23 economy in terms of GDP per capita (current US$) and the number 13 most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of United Kingdom are Cars ($39.4B), Gas Turbines ($25.6B), Gold ($24B), Crude Petroleum ($22.6B), and Packaged Medicaments ($19B), exporting mostly to United States ($64.7B), Germany ($44.3B), China ($29.8B), Netherlands ($29.4B), and France ($29.1B).

In 2019, United Kingdom was the world's biggest exporter of Hard Liquor ($8.11B), Brochures ($2.45B), Antiques ($1.09B), Stainless Steel Ingots ($460M), and Railroad Ties ($190M)

Imports: The top imports of United Kingdom are Gold ($65B), Cars ($47.3B), Crude Petroleum ($23.3B), Refined Petroleum ($20.9B), and Broadcasting Equipment ($16.7B), importing mostly from Germany ($86B), China ($63.6B), United States ($51B), Netherlands ($48.5B), and France ($38.2B).

In 2019, United Kingdom was the world's biggest importer of Gold ($65B), Platinum ($6.83B), Unpackaged Medicaments ($2.34B), Self-Propelled Rail Transport ($1.57B), and Preserved Meat ($901M)

Location: United Kingdom borders Ireland by land and by sea.

Latest Trends (April, 2021)

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Overview: In April 2021 United Kingdom exported £28.1B and imported £38.4B, resulting in a negative trade balance of £10.2B. Between April 2020 and April 2021 the exports of United Kingdom have increased by £4.51B (19.1%) from £23.6B to £28.1B, while imports increased by £8.94B (30.4%) from £29.4B to £38.4B.

Trade: In April 2021, the top exports of United Kingdom were Gold (£2.97B), Cars (£2.01B), Commodities not elsewhere specified (£1.85B), Gas Turbines (£1.18B), and Platinum (£1.13B). In April 2021 the top imports of United Kingdom were Gold (£2.44B), Cars (£1.75B), Crude Petroleum (£1.26B), Platinum (£1.16B), and Telephones (£1.03B).

Origins: In April 2021 the exports of United Kingdom were mainly from London Heathrow Airport (£6.95B), Dover (£3.18B), Southampton (£2.02B), London Stansted Airport (£1.54B), and East Midlands Airport (£1.06B), while imports destinations were mainly London Heathrow Airport (£6.25B), Felixstowe (£2.61B), Southampton (£2.49B), and London Gateway (£917M).

Destinations: In April 2021, United Kingdom exported mostly to United States (£3.84B), Germany (£2.62B), Netherlands (£1.83B), Switzerland (£1.68B), and France (£1.5B), and imported mostly from China (£4.74B), Germany (£4.26B), United States (£3.58B), Netherlands (£2B), and World (£1.71B).

Growth: In April 2021, the increase in United Kingdom's year-by-year exports was explained primarily by an increase in exports to Hungary (£838M or 1.11k%), United States (£644M or 20.2%), and World (£632M or 115%), and product exports increase in Cars (£1.7B or 538%), Commodities not elsewhere specified (£1.05B or 133%), and Platinum (£617M or 121%). In April 2021, the increase in United Kingdom's year-by-year imports was explained primarily by an increase in imports from China (£1.56B or 49%), Germany (£1.46B or 52%), and World (£964M or 129%), and product imports increase in Cars (£1.42B or 432%), Platinum (£761M or 190%), and Crude Petroleum (£567M or 81.8%).

Historical Data

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Yearly Exports

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Value
Depth

Top Export (2019): Cars, $39.4B

Top Destination (2019): United States, $64.7B

In 2019, United Kingdom exported a total of $446B, making it the number 10 exporter in the world. During the last five reported years the exports of United Kingdom have changed by -$44.8B from $491B in 2014 to $446B in 2019.

The most recent exports are led by Cars ($39.4B), Gas Turbines ($25.6B), Gold ($24B), Crude Petroleum ($22.6B), and Packaged Medicaments ($19B). The most common destination for the exports of United Kingdom are United States ($64.7B), Germany ($44.3B), China ($29.8B), Netherlands ($29.4B), and France ($29.1B).

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Yearly Imports

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Value
Depth

Top Import (2019): Gold, $65B

Top Origin (2019): Germany, $86B

In 2019 United Kingdom imported $664B, making it the number 4 trade destination in the world. During the last five reported years the imports of United Kingdom changed by -$13.5B from $678B in 2014 to $664B in 2019.

The most recent imports of United Kingdom are led by Gold ($65B), Cars ($47.3B), Crude Petroleum ($23.3B), Refined Petroleum ($20.9B), and Broadcasting Equipment ($16.7B). The most common import partners for United Kingdom are Germany ($86B), China ($63.6B), United States ($51B), Netherlands ($48.5B), and France ($38.2B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

United Kingdom Exports Services (2017): $352B

United Kingdom Imports Services (2017): $211B

In 2017, United Kingdom exported $352B worth of services. The top services exported by United Kingdom in 2017 were Other business services ($104B), Financial services ($76.9B), Travel ($51.1B), Transportation ($38.7B), and Computer and information services ($26B).

The top services imported by United Kingdom in 2017 were Travel ($71.3B), Other business services ($49.9B), Transportation ($28.4B), Financial services ($19.7B), and Computer and information services ($14.9B).

Economic Complexity

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Most Specialized Products by RCA Index

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United Kingdom has a high level of specialization in Railroad Ties (12.9), Antiques (12.8), Hard Liquor (9.7), Stainless Steel Ingots (9.5), and Sculptures (8.4). Specialization is measured using RCA, an index that takes the ratio between United Kingdom observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of United Kingdom according to the product complexity index (PCI) are Measuring or checking instruments nes (1.93), Equipment using X-rays, alpha, beta, gamma rays (1.84), Bar or rod of stainless steel, hot rolled, coiled (1.78), Instruments to check or measure electricity, radiation (1.77), and Microscopes except optical, diffraction apparatus (1.73). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for United Kingdom according to the relatedness index, are Enzymes (0.34), Zirconium (0.34), Medical Instruments (0.34), Laboratory Glassware (0.34), and Cutting Blades (0.34). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that United Kingdom is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

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This network shows the products most related to the production structure of United Kingdom. These are products that tend to be co-exported with the products that United Kingdom exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

Economic Complexity Ranking

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Scale

During the last 20 years United Kingdom's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨6th to the 13th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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