United Kingdom2020 Economic Complexity : 1.42, Rank 13 of 127
2020 Product Exports | Imports: $371B | $610B, 11 of 226 | 4 of 226
2020 Per Capita Product Exports | Imports: $5.52k | $9.07k, 30 of 219 | 26 of 219
2019 Service Exports | Imports : $329B | $246B, 1 of 108 | 3 of 108
Overview In 2020, United Kingdom was the number 5 economy in the world in terms of GDP (current US$), the number 11 in total exports, the number 4 in total imports, the number 24 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 ($27.1B), Packaged Medicaments ($18.9B), Gas Turbines ($18.1B), Gold ($17.2B), and Crude Petroleum ($16.2B), exporting mostly to United States ($51.7B), Germany ($39.9B), Ireland ($26.8B), Netherlands ($25.1B), and France ($22.4B).
In 2020, United Kingdom was the world's biggest exporter of Hard Liquor ($6.41B), Silver ($2.97B), Brochures ($2.08B), and Lard stearin and oils ($12M)
Imports The top imports of United Kingdom are Gold ($83.7B), Cars ($32.8B), Broadcasting Equipment ($15.8B), Packaged Medicaments ($14.8B), and Crude Petroleum ($14.8B), importing mostly from Germany ($74.4B), China ($73.1B), United States ($48.6B), Netherlands ($40.3B), and France ($30.3B).
In 2020, United Kingdom was the world's biggest importer of Preserved Meat ($878M), Fermented Milk Products ($531M), Ceramic Bricks ($139M), Other Vegetable Residues and Waste ($126M), and Non-Retail Carded Wool Yarn ($64M)
Location United Kingdom borders Ireland by land and by sea.
August, 2022
Overview In August 2022 United Kingdom exported £38.3B and imported £55.2B, resulting in a negative trade balance of £16.9B. Between August 2021 and August 2022 the exports of United Kingdom have increased by £14.3B (59.3%) from £24.1B to £38.3B, while imports increased by £15.6B (39.5%) from £39.5B to £55.2B.
Trade In August 2022, the top exports of United Kingdom were Gold (£6.31B), Gas Turbines (£2.24B), Cars (£1.91B), Packaged Medicaments (£1.68B), and Crude Petroleum (£1.47B). In August 2022 the top imports of United Kingdom were Petroleum Gas (£4.41B), Gold (£3.65B), Crude Petroleum (£3.11B), Cars (£2.43B), and Refined Petroleum (£2.23B).
Origins In August 2022 the exports of United Kingdom were mainly from London Heathrow Airport (£11.6B), Dover Eurotunnel (£4.27B), Southampton (£2.45B), East Midlands Airport (£1.36B), and Immingham (£1.17B), while imports destinations were mainly London Heathrow Airport (£7.35B), Dover Eurotunnel (£4.3B), Felixstowe (£3.82B), Southampton (£3.53B), and Dover (£3.18B).
Destinations In August 2022, United Kingdom exported mostly to United States (£4.61B), China (£3.34B), Netherlands (£2.97B), Ireland (£2.7B), and Germany (£2.66B), and imported mostly from Germany (£5.3B), Norway (£5.09B), China (£5.03B), Netherlands (£4.82B), and United States (£4.73B).
Growth In August 2022, the increase in United Kingdom's year-by-year exports was explained primarily by an increase in exports to Switzerland (£619M or 95.6%), World (£420M or 50.2%), and Saudi Arabia (£80.1M or 31.2%), and product exports increase in Commodities not elsewhere specified (£542M or 47.7%), Platinum (£271M or 39.1%), and Gold (£144M or 14.6%). In August 2022, the increase in United Kingdom's year-by-year imports was explained primarily by an increase in imports from China (£633M or 15.3%), Australia (£456M or 306%), and World (£266M or 17.6%), and product imports increase in Petroleum Gas (£626M or 83%), Laboratory Reagents (£422M or 483%), and Silver (£382M or 327%).
EXPORT GROWTH (August 2021 - August 2022): £14.3B, (59.3%)
IMPORT GROWTH (August 2021 - August 2022): £15.6B, (39.5%)
MAIN EXPORTER (August 2022): London Heathrow Airport, £11.6B
MAIN DESTINATION (August 2022): United States, £4.61B
This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of United Kingdom over time.
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Top Export (2020): Cars, $27.1B
Top Destination (2020): United States, $74.4B
In 2020, United Kingdom exported a total of $371B, making it the number 11 exporter in the world. During the last five reported years the exports of United Kingdom have changed by -$56B from $427B in 2015 to $371B in 2020.
The most recent exports are led by Cars ($27.1B), Packaged Medicaments ($18.9B), Gas Turbines ($18.1B), Gold ($17.2B), and Crude Petroleum ($16.2B). The most common destination for the exports of United Kingdom are United States ($51.7B), Germany ($39.9B), Ireland ($26.8B), Netherlands ($25.1B), and France ($22.4B).
United Kingdom Exports Services (2019): $329B
United Kingdom Imports Services (2019): $246B
In 2019, United Kingdom exported $329B worth of services. The top services exported by United Kingdom in 2019 were Miscellaneous business, professional, and technical services ($128B), Financial services ($62.4B), Personal travel ($44.2B), Royalties and license fees ($21.3B), and Air transport ($19.3B).
The top services imported by United Kingdom in 2019 were Miscellaneous business, professional, and technical services ($84.9B), Personal travel ($65.2B), Air transport ($22.2B), Financial services ($19B), and Royalties and license fees ($16B).
United Kingdom has a high level of specialization in Hard Liquor (10), Antiques (9.67), Other Floating Structures (7.61), Paintings (7.23), and Aircraft Parts (7). Specialization is measured using RCA, an index that takes the ratio between United Kingdom observed and expected exports in each product.
The highest complexity exports of United Kingdom according to the product complexity index (PCI) are Microscopes (excluding optical microscopes); diffraction apparatus (1.86), Drawing, marking-out, mathematical calculating instruments (drafting machines, protractors, drawing sets etc); instruments for measuring length (e.g. measuring rods, tapes, micrometers, callipers) n.e.c. (1.84), Instruments, apparatus for measuring, checking electrical quantities not meters of heading no. 9028; instruments, apparatus for measuring or detecting alpha, beta, gamma, x-ray, cosmic and other radiations (1.83), Watch movements; complete and assembled (1.76), and Instruments and apparatus; for physical or chemical analysis (e.g. polarimeters, spectrometers), for measuring or checking viscosity, porosity, etc, for measuring quantities of heat, sound or light (1.75). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for United Kingdom according to the relatedness index, are Medical Instruments (0.37), Enzymes (0.36), Epoxides (0.36), Machinery Having Individual Functions (0.36), and Photographic Plates (0.36). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
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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