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United Kingdom
Exporting to United Kingdom
United Kingdom Export Guide | Trade Finance Global
Exporting to the UK
The United Kingdom is a sovereign country in Europe that comprises England, Wales, Scotland and Northern Ireland.
The capital and financial centre of the UK is London, with a metropolitan area population of over 14 million.
The UK’s 2016 decision to leave the European Union (EU) gave it the freedom to pursue its own trade deals with countries around the globe.
At the time the UK left, the EU had about 40 trade deals covering more than 70 countries. Since leaving, the UK has signed trade agreements and agreements in principle with 69 countries, including one with the EU.
Its 2019 import flows were nearly $692 billion, with imports primarily coming from Germany, the USA, China, the Netherlands, and France.
In general, individuals in the UK seem open to digitalisation, even for financial products.
Online banking penetration in the UK has grown steadily over the past decade, reaching 76% in 2020.
United Kingdom Country Profile
| Official Name (Local Language) | United Kingdom of Great Britain and Northern Ireland | Capital | London | Population | 64,430,428 | Currency | British Pound | GDP | $2,650 billion | Languages | English | Telephone Dial In | 44 |
United Kingdom Imports Profile
Imports ($m USD)
641,332
Number of Import Products
4,512
Number of Import Partners
227
Top 5 import partners
Country
Trade
% Partner Share
Germany
89,695
13.99
China
59,863
9.33
United States
58,829
9.17
Netherlands
51,411
8.02
France
36,502
5.69
Top 5 Export Products at HS 6 digit level
Export Product
Number
Motor cars and other motor vehicles principally...
6.9%
Gold, incl. gold plated with platinum, unwrought
5.4%
Petroleum oils and oils obtained from bituminous
3.2%
Turbo-jets, turbo-propellers and other gas...
3.2%
Transmission apparatus for radio-telephony,...
2.9%
Chart Showing GDP Growth Compared to rest of world
Export Chart
GDP Composition for United Kingdom
Agriculture
%
Products List
0.6%
Cereals, oilseed, potatoes, vegetables; cattle, sheep, poultry; fish
Industry
%
Industry List
19.2%
Machine tools, electric power equipment, automation equipment, railroad equipment, shipbuilding, aircraft, motor vehicles and parts, electronics and communications equipment, metals, chemicals, coal, petroleum, paper and paper products, food processing, t
Services
%
Services List
80.2%
Other business services Financial services Travel Transportation Computer and information services Insurance services Royalties and license fees Cultural and recreational services Government services Construction services
Exporting to the UK: what is trade finance?
In order for a company to export goods to another market, it may need export finance, which is a commercial agreement between the exporter and the foreign importer.
A non-bank lender will advance the cost of producing the goods before they are manufactured, or after they have been shipped.
Once the foreign importer has received the stock supplies and pays for the import, the company will repay the advance loan from the lender over an agreed period of time.
Government Website
https://www.gov.uk/
Sovereign Ratings
https://countryeconomy.com/ratings/uk
Central Bank
Bank of England
Currency USD Exchange Rate
0.7391
Unemployment Rate
4.8%
Population below poverty line
15%
Inflation Rate
0.25%
Prime Lending Rate
4.6%
GDP
$2,650 billion
GDP Pro Capita (PPP)
$42,500
Currency Name
British Pound
Currency Code
GBP
World Bank Classification
High Income
Competitive Industrial Performance
7/138
Corruption Perceptions Index
8/180
Ease of Doing Business
9/190
Enabling Trade Index
8/136
none selected
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Careers | Terms of Business | Get in Touch | Partners
Trade Finance Global is the trading name of TFG Finance Ltd (company number: 10305143) and TFG Publishing Ltd (12157036), incorporated in England and Wales, at 201 Haverstock Hill, Second Floor Fkgb, London, England, NW3 4QG. Trade Finance Global is registered as a Data Controller under the ICO: ZB421903 and ZB436621.
TFG Finance Ltd is an introducer, not a lender, working with Limited Companies and Incorporated Bodies who may pay us a commission.
© 2024 Trade Finance Global