Business Outputs and Development Division
Telephone: +44 (0)1633 456455
Categories: Economy, National Accounts, Balance of Payments, Current Accounts for Balance of Payments, Trade in Services on Current Account, Business and Energy, Businesses, International Trade, International Trade in Services
Frequency of release: Annually
Geographical coverage: International
Geographical breakdown: UK and GB
Survey name(s): Annual International Trade in Services (ITIS)
Total UK exports of services continued to increase from £89,523 million in 2010 to £97,311 million in 2011, an increase of 9% (compared with a 6% increase between 2009 and 2010).
Total UK imports of services increased by 4% from £42,074 million in 2010 to £43,564 million in 2011 (compared with relatively no change between 2009 and 2010).
The UK continues to be a net exporter of services. The total UK service balance increased by 13% from a surplus of £47,449 million in 2010 to £53,746 million in 2011.
Wholesale and retail trade continued to show strong growth in 2011 where UK exports rose by 65% from £8,609 million in 2010 to £14,176 million in 2011 (compared with a 26% increase in 2010).
Total UK exports of merchanting, other trade-related and services between affiliated enterprises increased by 30% in 2011 rising from £17,254 million in 2010 to £22,356 million in 2011 (compared with relatively small growth of 11% in 2010). This may indicate a shift in UK exports patterns favouring merchanting, other trade related and services between affiliated enterprises.
Growth in Asian markets continued to increase with UK exports to Asia rising by 9%, from £14,137 million in 2010 to £15,445 million in 2011 and UK imports from Asia rising by 25%, from £6,589 million in 2010 to £8,250 in 2011.
These National Statistics are produced to high professional standards and released according to the arrangements approved by the UK Statistics Authority.