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Importing from United Kingdom
United Kingdom Import Guide | Trade Finance Global
Importing from the UK
The United Kingdom of Great Britain and Northern Ireland is a sovereign country off the North Western coast of continental Europe.
The UK is a major international trading power, with international trade accounting for 28% of the country’s GDP.
In 2019, over $468 billion was exported by the UK, primarily to the USA, Germany, France, Netherlands, and China.
The majority of British exports are from a few key categories, namely mechanical machinery (14%); cars (10%); electrical machinery (8%); medicinal and pharmaceutical products (8%); crude oil (6%); and aircraft (5%).
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 | $2,650 billion | Languages | English | Telephone Dial In | 44 |
United Kingdom Exports Profile
Exports ($m USD)
442,066
Number of Export Products
4,479
Number of Export Partners
233
Top 5 export partners
Country
Trade
% Partner Share
United States
59,189
13.39 %
Germany
46,698
10.56 %
France
30,406
6.88 %
Netherlands
27,575
6.24 %
Ireland
25,108
5.68 %
Top 5 Export Products at HS 6 digit level
Export Product
Number
Petroleum oils and oils obtained from bituminou
Gold in oth semi-manufactured forms,non-monetar
Other medicaments of mixed or unmixed products,
Automobiles with reciprocating piston engine di
Aircraft parts nes
Chart Showing GDP Growth Compared to rest of world
GDP Composition for UK
Agriculture
%
Product 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
Importing from the UK: what is trade finance?
In the UK, exporters typically make payments on open accounts, payments in advance, letters of credit, documentary drafts, or consignments.
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.
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.
© 2022 Trade Finance Global