Flag United Kingdom

2019
Economic
Complexity
: 1.5, Rank 14 of 157

2019
Product
Exports | Imports
: $446B | $664B, 10 of 225 |  4 of 225

2019
Per Capita Product
Exports | Imports
: $6.68k | $9.94k, 36 of 219 |  28 of 219

2017
Service
Exports | Imports
: $352B | $211B, 2 of 139 | 4 of 139

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 14 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), Preserved Meat ($901M)

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

Latest Trends (November, 2020)

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Overview: In November 2020 United Kingdom exported £28.1B and imported £48.1B, resulting in a negative trade balance of £20B. Between November 2019 and November 2020 the exports of United Kingdom have decreased by £-1.84B (-6.15%) from £29.9B to £28.1B, while imports increased by £4.28B (9.78%) from £43.8B to £48.1B.

Trade: In November 2020, the top exports of United Kingdom were Cars (£2.46B), Commodities not elsewhere specified (£1.36B), Packaged Medicaments (£1.33B), Gas Turbines (£1.21B), and Crude Petroleum (£1.1B). In November 2020 the top imports of United Kingdom were Gold (£5.75B), Cars (£2.83B), Telephones (£2.1B), Computers (£1.34B), and Gas Turbines (£1.03B).

Origins: In November 2020 the exports of United Kingdom were mainly from London Heathrow Airport (£4.32B), Southampton (£2.02B), London Gateway (£1.01B), Felixstowe (£729M), and East Midlands Airport (£525M), while imports destinations were mainly London Heathrow Airport (£9.42B), Felixstowe (£3.13B), Southampton (£2.27B), and London Gateway (£726M).

Destinations: In November 2020, United Kingdom exported mostly to United States (£4.18B), Germany (£2.9B), Ireland (£2.49B), Netherlands (£1.67B), and China (£1.46B), and imported mostly from China (£6.24B), Germany (£5.63B), United States (£4.1B), Netherlands (£3.5B), and Belgium (£2.29B).

Growth: In November 2020, the decrease in United Kingdom's year-by-year exports was explained primarily by an decrease in exports to Germany (£-1.57B or -51.5%), United States (£-1.42B or -30.2%), and France (£-1.13B or -57.6%), and product exports decrease in Gas Turbines (£-816M or -44.7%), Crude Petroleum (£-707M or -46.5%), and Aircraft Parts (£-648M or -56.6%). In November 2020, 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 (£256M or 16.9%), and product imports increase in Petroleum Gas (£592M or 78.5%), Laboratory Reagents (£415M or 475%), and Silver (£379M or 325%).

Flow
Value
Depth

EXPORT GROWTH (November 2019 - November 2020): £-1.84B, (-6.15%)

IMPORT GROWTH (November 2019 - November 2020): £4.28B, (9.78%)

MAIN EXPORTER (November 2020): London Heathrow Airport, £4.32B

MAIN DESTINATION (November 2020): United States, £4.18B

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.

Comparison in Time

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Flow
Value

This section shows the differences between United Kingdom's total subnational aggregate trade throughout time. To explore different subnational trade comparisons in time, visit United Kingdom's subnational profiles.

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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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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 14th⁩ 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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Comparison Map

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Value

This section shows exports, imports and economic complexity data at subnational level for United Kingdom. Click any of the Port in the geomap to visit the specific subnational profile.

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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.

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.