UK Export Services Growing

Posted on: 30/10/2018

Figures released last week by the Office for National statistics show that UK exports of services grew by 6.9% in the year to June 2018. As with exports of goods, sales to EU countries grew faster than sales to the rest of the world. Total value of all services exports was £286 Billion.

The surplus in services (exports minus imports) continued to grow, reaching £117 billion.

Exports of services to the EU grew by 11% to £119 billion, increasing the EU market’s share of British exports to 42% from 40% in the previous 12 month period. Exports to the rest of the world also grew, by 4.5% to £167 billion.

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