United Kingdom2021 Economic Complexity Trade : 1.43, Rank 11 of 131
2021 Economic Complexity Technology : 1.09, Rank 14 of 96
2021 Economic Complexity Research : 2.31, Rank 2 of 140
2021 Product Exports | Imports: $420B | $681B, 13 of 226 | 7 of 226
2021 Per Capita Product Exports | Imports: $6.24k | $10.1k, 43 of 219 | 29 of 219
Overview In 2021, United Kingdom was the number 5 economy in the world in terms of GDP (current US$), the number 13 in total exports, the number 7 in total imports, the number 22 economy in terms of GDP per capita (current US$) and the number 11 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of United Kingdom are Cars ($30.2B), Gold ($29.7B), Gas Turbines ($21.9B), Crude Petroleum ($19.6B), and Packaged Medicaments ($17.9B), exporting mostly to United States ($56.1B), Germany ($39.5B), Netherlands ($34.6B), Ireland ($28.4B), and Switzerland ($25.7B).
In 2021, United Kingdom was the world's biggest exporter of Hard Liquor ($7.74B), Antiques ($556M), Collector's Items ($394M), Scrap Nickel ($116M), and Scrap Lead ($94.6M)
Imports The top imports of United Kingdom are Gold ($53.9B), Cars ($33.6B), Petroleum Gas ($26.8B), Crude Petroleum ($23.4B), and Packaged Medicaments ($15.2B), importing mostly from China ($86.2B), Germany ($76.3B), United States ($55.5B), Netherlands ($43.1B), and Norway ($33.5B).
In 2021, United Kingdom was the world's biggest importer of Silver ($6.33B), Preserved Meat ($815M), Fermented Milk Products ($536M), Tissue ($424M), and Fairground Amusements ($220M)
Location United Kingdom borders Ireland by land and by sea.
March, 2023
Overview In March 2023 United Kingdom exported £37.9B and imported £58.3B, resulting in a negative trade balance of £20.4B. Between March 2022 and March 2023 the exports of United Kingdom have increased by £3.8B (11.2%) from £34.1B to £37.9B, while imports decreased by £-3.01B (-4.91%) from £61.3B to £58.3B.
Trade In March 2023, the top exports of United Kingdom were Gold (£4.69B), Gas Turbines (£2.69B), Cars (£2.46B), Commodities not elsewhere specified (£1.55B), and Crude Petroleum (£1.43B). In March 2023 the top imports of United Kingdom were Cars (£4.12B), Petroleum Gas (£2.93B), Gold (£2.68B), Commodities not elsewhere specified (£2.3B), and Crude Petroleum (£2.22B).
Origins In March 2023 the exports of United Kingdom were mainly from London Heathrow Airport (£9.8B), Dover Eurotunnel (£5.74B), Southampton (£2.46B), Inland Clearance (£1.83B), and East Midlands Airport (£1.66B), while imports destinations were mainly Undefined (£7.29B), London Heathrow Airport (£7.16B), Dover (£4.96B), Felixstowe (£3.58B), and Immingham (£3.58B).
Destinations In March 2023, United Kingdom exported mostly to United States (£4.69B), Switzerland (£4.12B), Netherlands (£3.09B), Germany (£3.06B), and Ireland (£2.25B), and imported mostly from Germany (£7.11B), United States (£6.04B), Netherlands (£5.08B), China (£4.38B), and France (£3.54B).
Growth In March 2023, the increase in United Kingdom's year-by-year exports was explained primarily by an increase in exports to Switzerland (£2.57B or 165%), China (£829M or 66%), and United States (£441M or 10.4%), and product exports increase in Gold (£2.84B or 154%), Gas Turbines (£1.03B or 62.4%), and Cars (£454M or 22.6%). In March 2023, the decrease in United Kingdom's year-by-year imports was explained primarily by an decrease in imports from Norway (£-2.5B or -49.1%), China (£-980M or -18.3%), and Switzerland (£-807M or -46.1%), and product imports decrease in Petroleum Gas (£-2.81B or -49%), Gold (£-707M or -20.9%), and Crude Petroleum (£-610M or -21.6%).
EXPORT GROWTH (March 2022 - March 2023): £3.8B, (11.2%)
IMPORT GROWTH (March 2022 - March 2023): £-3.01B, (-4.91%)
MAIN EXPORTER (March 2023): London Heathrow Airport, £9.8B
MAIN DESTINATION (March 2023): United States, £4.69B
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 (2021): Cars, $30.2B
Top Destination (2021): United States, $56.1B
In 2021, United Kingdom exported a total of $420B, making it the number 13 exporter in the world. During the last five reported years the exports of United Kingdom have changed by $31B from $389B in 2016 to $420B in 2021.
The most recent exports are led by Cars ($30.2B), Gold ($29.7B), Gas Turbines ($21.9B), Crude Petroleum ($19.6B), and Packaged Medicaments ($17.9B). The most common destination for the exports of United Kingdom are United States ($56.1B), Germany ($39.5B), Netherlands ($34.6B), Ireland ($28.4B), and Switzerland ($25.7B).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
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 Prints (14.9), Antiques (13.4), Collector's Items (11), Hard Liquor (10.9), and Sculptures (10.5). 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 (1.83), Instruments, apparatus for measuring, checking electrical quantities not meters of heading no.... (1.78), Watch movements; complete and assembled (1.74), Drawing, marking-out, mathematical calculating instruments (drafting machines, protractors, drawing sets etc); instruments... (1.69), and X-ray, alpha, beta, gamma radiation apparatus; x-ray tubes, x-ray generators, high tension... (1.68). 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, were Typewriters (0.41), Phosphides (0.38), Special Pharmaceuticals (0.37), Machinery Having Individual Functions (0.36), and Enzymes (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 11th 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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