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

Historical Data

#permalink to section
Value
Depth

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).

Explore Visualizations

Flow
View

Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

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).

Economic Complexity

#permalink to section

Most Specialized Products by RCA Index

#permalink to section

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.

Export Opportunities by Relatedness

#permalink to section

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.

Relatedness Space

#permalink to section

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

#permalink to section
Filter
Depth

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.

Economic Complexity Ranking

#permalink to section
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.

Explore Rankings