Official Statistics

Trade and investment core statistics book

Updated 19 April 2024

1. Things you need to know about this publication

  1. We welcome feedback on our statistics. Please get in touch with us at statistics@businessandtrade.gov.uk if you have any comments or questions.

  2. This publication covers and summarises the wide range of statistics produced by the Office for National Statistics (ONS), HM Revenue and Customs (HMRC), Department for Business and Trade (DBT), the Organisation for Economic Co-operation and Development (OECD) and others into a single product.

  3. The compendium brings together these statistics in a user-friendly publication with the aim of helping users to quickly find the most relevant and up to date trade and investment statistics. It provides the latest available statistics from a number of UK and international sources on a consistent basis and where inconsistencies exist explains the differences between the sources. The publication of the Trade and Investment Core Statistics Book improves the accessibility of trade and investment statistics by helping both the professional and newcomers to trade and investment statistics navigate the various sources to identify the most relevant statistics and to present them in a consistent manner.

  4. Since the previous update, the Core Statistics Book has been updated with figures from:

  5. UK trade statistics saw higher levels of volatility between 2019 and 2022 due to the impact of the coronavirus pandemic, global recession, supply chain disruption, EU Exit, Russia’s invasion of Ukraine, and price inflation. It is challenging to disentangle the driving factors, and it’s difficult to assess the extent to which recent changes reflect short-term trade disruption or longer-term supply chain adjustments. The latest ONS release UK Trade: February 2024 covers trade up to the end of February 2024.

  6. The ONS have published a number of articles setting out the impact of changes to data collection since the UK left the EU. Caution is advised when making comparisons over this time period due to the discontinuity in the data.

  7. Unless otherwise stated, all figures are reported in nominal (current prices) and have not been adjusted for inflation. Real estimates (Chained Volume Measures) take account of inflation.

  8. For the latest statistics on trade and investment between the UK and all individual trading and investment partners please see the trade and investment factsheets.

  9. For a summary of the latest headline statistics, in a simple visual format, please see the UK trade in numbers.

  10. The Core Statistics Book is designated as Official Statistics under the Statistics and Registration Service Act 2007. From August 2018 these statistics have been produced to fully comply with the Code of Practice for Official Statistics. The United Kingdom Statistics Authority has not assessed these statistics for compliance against the code and as such these statistics are not National Statistics.

  11. Due to the large number of data sources available it can be difficult to determine which is the best source of information for a particular statistic. Therefore DBT have produced this technical annex to provide more information about the different sources, including some information on the strengths and weaknesses of the statistics.

  12. Additionally, more information is available from the relevant data supplier which can be found by following the source link below the statistic of interest.

  13. All figures are correct as of the date of release and are as reported by their data producer. The publication will be updated in line with the update schedule.

  14. In some instances, figures in the main commentary may differ to those in the trade and investment statistics summary sheet. This is because more up-to-date figures on goods and services by partner country, consistent with the aggregate figures in the statistics summary sheet, are not available. This means that some tables and charts within the commentary, such as country ranking tables, use older data to provide these breakdowns.

  15. For terms and definitions please see the glossary in the technical annex.

  16. Totals may not exactly match the sum of their parts due to rounding.

  17. All data are seasonally adjusted unless otherwise specified. The exception to this is data sources that only provide annual data, such as the ONS Non-financial business economy, exporters and importers in Great Britain (Annual Business Survey): 2021 or Department for Business and Trade inward investment results 2022 to 2023, where seasonal adjustment is not needed. Seasonally adjusted data available on a more frequent basis (for example, quarterly) is often constrained so that when it is summed to get data for a calendar year it will match non-seasonally adjusted data for the same calendar year.

  18. In data tables:

    • values may not sum to totals due to rounding

    • divisions are as reported by ONS, derived from Standard International Trade Classifications (SITC)

    • unspecified goods include precious metals, parcel post, low value trade, coins, and defence equipment

    • precious metals include non-monetary gold, silver, platinum and palladium, and it forms part of the commodity group “unspecified goods”. Non-monetary gold comprises the majority of this group

    • United States includes Puerto Rico

  19. Other business services include professional, management consulting, technical and trade related services

  20. The average growth rate referenced in total (goods and services) exports uses a Compound Annual Growth Rate (CAGR). Prior to 21 June 2023, we presented a simple average growth rate

2. Top and emerging partner countries

2.1 Top 10 UK export markets for goods and services in 20221

Rank Export market £ billion % of total
1 United States 175.2 20.9%
2 Germany 57.3 6.8%
3 Netherlands 56.8 6.8%
4 Ireland 54.8 6.5%
5 France 43.4 5.2%
6 China 39.3 4.7%
7 Switzerland 33.9 4.0%
8 Belgium 25.1 3.0%
9 Hong Kong 18.4 2.2%
10 Spain 18.1 2.2%
N/A EU1 344.5 41.1%
N/A Non-EU1 493.3 58.9%
N/A World1 837.8 100.0%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023.

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

2.2 Top 10 UK import markets for goods and services in 20221

Rank Import market £ billion % of total
1 United States 113.8 12.6%
2 Germany 80.1 8.9%
3 China 73.5 8.1%
4 Netherlands 65.5 7.2%
5 France 51.5 5.7%
6 Norway 46.7 5.2%
7 Spain 38.7 4.3%
8 Belgium 32.3 3.6%
9 Italy 30.9 3.4%
10 Ireland 28.7 3.2%
N/A EU1 427.3 47.2%
N/A Non-EU1 477.3 52.8%
N/A World1 904.6 100.0%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023.

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

2.3 Top 10 UK export markets for goods only in 2023

Rank Export market £ billion % of total
1 United States 61.8 15.6%
2 Germany 33.9 8.6%
3 Netherlands 31.0 7.8%
4 Ireland 28.2 7.1%
5 France 24.5 6.2%
6 China 21.4 5.4%
7 Belgium 17.7 4.5%
8 Switzerland 12.9 3.3%
9 Italy 10.4 2.6%
10 Spain 9.9 2.5%
N/A EU 186.1 47.1%
N/A Non-EU 208.7 52.9%
N/A World 394.8 100.0%

Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024.

2.4 Top 10 UK import markets for goods only in 2023

Rank Import market £ billion % of total
1 Germany 73.8 12.7%
2 United States 57.8 9.9%
3 China 55.8 9.6%
4 Netherlands 53.4 9.2%
5 France 40.7 7.0%
6 Belgium 29.2 5.0%
7 Norway 27.3 4.7%
8 Italy 23.5 4.0%
9 Spain 19.7 3.4%
10 Ireland 19.6 3.4%
N/A EU 319.0 54.9%
N/A Non-EU 262.5 45.1%
N/A World 581.5 100.0%

Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024.

2.5 Top 10 UK export markets for services only in 20221

Rank Export market £ billion % of total
1 United States 115.9 28.1%
2 Ireland 24.5 5.9%
3 Germany 23.2 5.6%
4 Netherlands 19.1 4.6%
5 France 17.4 4.2%
6 Switzerland 15.1 3.7%
7 Luxembourg 11.3 2.7%
8 China 10.4 2.5%
9 Spain 8.6 2.1%
10 Canada 8.2 2.0%
N/A EU1 147.7 35.8%
N/A Non-EU1 264.6 64.2%
N/A World1 412.3 100.0%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023.

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

2.6 Top 10 UK import markets for services only in 20221

Rank Import market £ billion % of total
1 United States 51.9 19.8%
2 Spain 19.9 7.6%
3 France 17.3 6.6%
4 Germany 11.8 4.5%
5 India 9.8 3.8%
6 Ireland 9.6 3.7%
7 Netherlands 9.4 3.6%
8 Switzerland 9.0 3.4%
9 Italy 7.3 2.8%
10 Poland 5.5 2.1%
N/A EU1 119.6 45.6%
N/A Non-EU1 142.5 54.4%
N/A World1 262.1 100.0%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023.

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

2.7 Top 10 UK surpluses in goods and services in 20221

Rank Partner countries with largest surpluses £ billion
1 United States 61.3
2 Ireland 26.1
3 Switzerland 14.2
4 Hong Kong 7.9
5 Australia 7.6
6 Singapore 6.5
7 Saudi Arabia 6.4
8 Luxembourg 6.1
9 Cayman Islands 5.4
10 United Arab Emirates 4.8
N/A Non-EU1 16.0

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023.

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

2.8 Top 10 UK deficits in goods and services in 20221

Rank Partner countries with largest deficits £ billion
1 Norway -38.4
2 China -34.2
3 Germany -22.9
4 Spain -20.6
5 Italy -14.4
6 Poland -8.9
7 Netherlands -8.7
8 France -8.0
9 Turkey -7.5
10 Belgium -7.2
N/A EU1 -82.8

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023.

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

2.9 Top 10 UK trading partners in 2022 (exports plus imports of goods and services)1

Rank Partner country £ billion % of total trade
1 United States 289.0 16.6%
2 Germany 137.4 7.9%
3 Netherlands 122.3 7.0%
4 China 112.8 6.5%
5 France 94.9 5.4%
6 Ireland 83.5 4.8%
7 Belgium 57.4 3.3%
8 Spain 56.8 3.3%
9 Norway 54.9 3.2%
10 Switzerland 53.6 3.1%
N/A EU1 771.8 44.3%
N/A Non-EU1 970.6 55.7%
N/A World1 1,742.4 100.0%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023.

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

2.10 Fastest-growing markets for UK exports of goods and services between 2012 and 2022 (current prices)1

Rank Export market Value in 2022 (£ billion) % change between 2012 and 2022
1 North Macedonia 2.1 472.2%
2 Panama 1.1 247.2%
3 Luxembourg 11.9 202.4%
4 Lithuania 1.7 159.6%
5 Switzerland 33.9 140.8%
6 Gibraltar 4.3 140.2%
7 China 39.3 138.0%
8 Hong Kong 18.4 135.3%
9 Vietnam 1.1 132.4%
10 Qatar 4.8 127.6%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023.

Notes:

  1. Only including those with more than £1.0 billion in value in the latest calendar year for which data is available.

3. Top and fastest-growing goods and services

3.1 Top 10 UK goods exports in 2023

Rank Commodity (SITC division) Division £ billion % of total goods exports
1 Cars 78M 36.5 9.2%
2 Mechanical power generators (intermediate) 71MI 34.4 8.7%
3 Medicinal & pharmaceutical products 54 26.1 6.6%
4 Crude oil 33O 20.6 5.2%
5 Precious metals 97 17.7 4.5%
6 Refined oil 33R 13.2 3.3%
7 Aircraft 792 11.8 3.0%
8 Scientific instruments (capital) 87K 11.7 3.0%
9 Beverages & tobacco 1 11.3 2.9%
10 Non-ferrous metals 68 11.1 2.8%
N/A Total goods exports N/A 394.8 100.0%

Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024

3.2 Top 10 UK goods imports in 2023

Rank Commodity (SITC division) Division £ billion % of total goods imports
1 Cars 78M 40.2 6.9%
2 Refined oil 33R 28.2 4.9%
3 Crude oil 33O 26.6 4.6%
4 Mechanical power generators (intermediate) 71MI 26.4 4.5%
5 Medicinal & pharmaceutical products 54 25.4 4.4%
6 Gas 34 21.2 3.7%
7 Miscellaneous electrical goods (intermediate) 77I 21.2 3.7%
8 Telecoms & sound equipment (capital) 76K 16.9 2.9%
9 Clothing 84 15.7 2.7%
10 Other manufactures (consumer) 89OC 14.3 2.5%
N/A Total goods imports N/A 581.5 100.0%

Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024

3.3 Top 5 UK services exports in 2023

Rank Type of service £ billion % of total services exports
1 Other business services 184.8 39.3%
2 Financial services 77.1 16.4%
3 Travel services 59.5 12.7%
4 Telecommunication, computer and information services 40.0 8.5%
5 Transport services 30.7 6.5%
N/A Total services exports 469.8 100.0%

Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024

3.4 Top 5 UK services imports in 2023

Rank Type of service £ billion % of total services imports
1 Other business services 112.5 35.5%
2 Travel services 88.8 28.0%
3 Transport services 33.9 10.7%
4 Financial services 17.2 5.4%
5 Intellectual property services 16.9 5.4%
N/A Total services imports 316.4 100.0%

Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024

3.5 Fastest-growing UK exports of goods between 2013 and 2023, not seasonally adjusted (current prices)1

Rank Product Commodity (SITC division) Value in 2023 £ billion % change between 2013 and 2023
1 Unspecified goods 9 19.8 571.3%
2 Mechanical power generators (intermediate) 71MI 34.4 82.7%
3 General industrial machinery (capital) 74K 10.8 79.9%
4 Miscellaneous electrical goods (capital) 77K 5.6 63.5%
5 Non-ferrous metals 68 11.1 56.4%

Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024

Notes:

  1. Only including those with more than £5.0 billion in value in the latest calendar year for which data is available.

3.6 Fastest-growing UK exports of services between 2022 and 20231

Rank Type of Service Value in 2023 £ billion % growth since previous year
1 Insurance and pension services 30.1 26.6%
2 Other business services 184.8 19.4%
3 Personal, cultural and recreational services 6.5 15.4%
4 Telecommunication, computer and information services 40.0 12.5%
5 Travel services 59.5 12.1%

Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024

Notes:

  1. Only including those with more than £5.0 billion in value in the latest calendar year for which data is available.

4. Total (goods and services) exports

  • The value of UK exports was £864.5 billion in 2023, up 3.2% on 2022. This reflects a 7.2% decrease of goods exports and a 13.9% increase of services exports. More timely data shows the value of UK exports was £861.6 billion in the 12 months ending February 2024, down 0.5% on the previous 12 months. (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).

4.1 UK exports of goods and services (current prices)

Source: ONS UK Trade, February 2024

  • The 3.2% increase of exports in 2023 followed a 23.9% increase in 2022 and an 8.2% increase in 2021. The 0.5% decrease in the 12 months ending February 2024 followed a 25.1% increase in the 12 months ending February 2023 and a 13.8% increase in the 12 months ending February 2022. (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).
  • Between 2013 and 2023 exports have increased by 60.2% (in current prices), around 4.4% per year on average. This change has been calculated using Compound Annual Growth Rate (CAGR). Prior to 21st June 2023, we presented a simple average growth rate. This increase consisted of a 95.9% increase in services exports and a 31.7% increase in goods exports. (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).

4.2 UK exports to the EU and non-EU (current prices)

Source: ONS Balance of Payments, UK: Oct to Dec 2023

4.3 Top 20 UK export markets for goods and services in 20221

Source: Seasonally adjusted data from UK trade, quarterly trade in goods and services tables: July to September 2023 release

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

4.4 Top 10 UK export markets (for goods and services) in the 12 months ending September 20231

Rank Export market £ billion % of total exports
1 United States 193.1 21.9%
2 Germany 60.4 6.8%
3 Ireland 57.6 6.5%
4 Netherlands 55.3 6.3%
5 France 44.5 5.0%
6 China 37.5 4.2%
7 Switzerland 35.9 4.1%
8 Belgium 25.3 2.9%
9 Spain 19.8 2.2%
10 Hong Kong 18.6 2.1%
N/A EU1 358.9 40.6%
N/A Non-EU1 524.2 59.4%
N/A World1 883.1 100.0%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023.

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

4.5 Global export rankings

(Source: UNCTAD Goods and Services (BPM6): Exports and imports of goods and services, annual, next release: UNCTAD Goods and Services (BPM6): Exports and imports of goods and services, annual)

In 2022* the UK ranked:

  • fourth in the world for exports of goods and services (up from seventh in 2021)
  • second in Europe for exports of goods and services, behind Germany (up from fourth in 2021)
  • second in the world for services exports (no change from 2021)
  • due to incomplete data for some countries, it is not possible to provide a goods export ranking for 2022

4.6 World rankings for exports of goods and services

Source: UNCTAD

*Much of the 2022 data on which these rankings are based are modelled/estimated.

4.7 Current estimates and forecasts of real export growth

  • In real terms, UK exports decreased by 0.5% in 2023, following a 9.0% increase in 2022. The decrease in 2023 consisted of a 6.7% increase in services exports and a 7.7% decrease in goods exports. In the 12 months ending February 2024 UK exports decreased by 2.5% following a 9.5% increase in the 12 months ending February 2023. (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).
  • The IMF forecasts the volume of UK exports of goods and services to decrease by 1.2% in 2024, (this is revised down from the 1.8% growth that was forecast in the October 2023 publication), and then grow at 0.7% in 2025. (Source: IMF World Economic Outlook - April 2024).

4.8 UK export volume growth forecasts (%)1

International Organisation 2024 2025
IMF1 (goods and services) -1.2 0.7
OECD (goods and services) 1.5 1.6

Source: IMF World Economic Outlook - April 2024 and OECD Economic Outlook - February 2024

4.9 Number and % of registered GB businesses exporting

(Source: ONS Non-financial business economy, exporters and importers in Great Britain (Annual Business Survey): 2021, next release: ONS Non-financial business economy, exporters and importers in Great Britain (Annual Business Survey): 2022).

  • In 2021, 283,600 registered Great Britain businesses (11.4%) exported either goods or services or both.

  • 99% of GB exporting businesses were businesses with fewer than 250 employees.

  • 121,200 registered GB businesses (4.9%) are estimated to have exported goods.

  • 197,100 registered GB businesses (8.0%) are estimated to have exported services.

  • Responses for the 2021 Annual Business Survey (ABS) were collected during the COVID-19 pandemic in the UK. This impacted the number of responses received - a response rate of approximately 68% of businesses in the sample, compared to 78% for 2018 data. This lower response rate increases the level of uncertainty around these estimates, and it is therefore strongly recommended that figures for 2021 should not be compared to figures from previous years and should instead be treated as a point in time survey.

  • These estimates do not cover all businesses. They only cover registered businesses (for Value Added Tax (VAT) and/or PAYE) in the GB non-financial business economy which accounts for around two-thirds of the economy in terms of gross value added.

  • HMRC publish the UK trade in goods by business characteristics which provides numbers of UK businesses exporting and importing goods. The HMRC data is not comparable to the ABS data due to differences in coverage and methodology.

  • Other sources also estimate the number or proportion of businesses which export (for example, HMRC Regional Trade Statistics) but they differ in their methodology and coverage and are not directly comparable with the ABS.

4.10 Number and proportion of registered GB businesses, 20211,2,3,4

Exporting % Importing % Exporting and/or importing %
Goods and/or Services 283,600 11.4% 299,100 12.1% 418,400 16.9%
Goods 121,200 4.9% 177,200 7.2% 219,000 8.8%
Services 197,100 8.0% 163,000 6.6% 266,500 10.8%

(Source: ONS Non-financial business economy, exporters and importers in Great Britain (Annual Business Survey): 2021, next release: ONS Non-financial business economy, exporters and importers in Great Britain (Annual Business Survey): 2022).

Notes:

  1. The data for 2021 are based on a response rate of 68% of businesses in the sample, compared to 78% for 2018. This increases the level of uncertainty around the estimates, as certain groups in the sample do not have the degree of representation required. It is strongly recommended that users consult the standard errors and confidence intervals available in the ONS dataset. These are provided to illustrate the level of uncertainty within the estimates.
  2. Data are for VAT/PAYE registered enterprises in Great Britain only (excludes Northern Ireland). The data exclude much of finance, agriculture and government.
  3. Goods and services do not add up to the total for goods and services combined. This is because some businesses will trade in both goods and services. In the same way the number of exporters and importers may not add up to the total number involved in international trade because some businesses will both export and import.
  4. These estimates cover the Great Britain business economy, excluding Insurance and Reinsurance industries, which accounts for just under two thirds of the economy in terms of Gross Value Added. The industries covered are:
  • Agriculture (support activities SIC 01.6 and hunting and trapping SIC 01.7 only), forestry and fishing (Section A)
  • Production industries (Sections B-E)
  • Construction industries (Section F)
  • Distribution industries (Section G)
  • Non-Financial Service industries (Sections H-J, L-N, P (private provision only), Q (private provision only in SIC 86.1 and 86.9), R and S).

4.11 Attitudes of UK businesses to exporting in 2022

(Source: National Survey of Registered Businesses’ Exporting Behaviours, Attitudes and Needs 2022, next release: National Survey of Registered Businesses’ Exporting Behaviours, Attitudes and Needs 2023):

  • In 2022, a total of 3,001 responses were collected from businesses across 3 points in the year. The NSRB interviews businesses of all sizes and in all locations of the UK, however the primary focus is on businesses with an annual turnover of £500,000 or more on the premise that they can potentially generate high value exports. In 2022, there were 2,485 businesses interviewed with a turnover of £500,000 or more. *The NSRB is weighted to be nationally representative. The £500,000+ turnover data set is representative of £500,000+ turnover businesses and the full data set is representative of all businesses across the UK.
  • The NSRB results vary from those in ONS surveys such as the Annual Business Survey and the fortnightly Business insights and impact on the UK economy (BICS) due to a differing methodological approach and survey objectives. Differences between ONS Annual Business Survey and NSRB are explained in the NSRB technical report.
  • The NSRB allocates businesses into 4 segments that reflect their exporting behaviour. In 2022, the proportions of businesses falling into each segment were similar to previous waves. In 2022:
    • More than a third of businesses (34%) had exported either goods or services in the past 12 months,
    • 9% were either lapsed or intermittent exporters, who had not exported in the past 12 months but had done previously,
    • 15% had never exported but had goods or services which they self-identified as being either suitable, or could be developed to be suitable, for export,
    • 42% had never exported and did not see their goods or services as suitable for export.
  • The proportion of businesses that had exported in the last 12 months was in line with previous years (2022: 34%, 2021: 35%). Overall, the proportion of businesses which have ever exported (43%) is consistent with previous years (45% in 2021 and 40% in 2020).
  • 25% of businesses exported goods in the last 12 months, down from 27% in 2021, and 15% exported services, up from 12% in 2021 (but still down from 17% in 2020).
  • As in 2021, more current exporters reported a reduction rather than an increase in their exports over the past 12 months. For exports of goods, 43% of exporters had reduced their exports of goods and 26% had increased, whilst for exports of services 29% of exporters had reduced their exports of services and 26% had increased. The main reasons given for reducing exports were EU Exit (29%), reduction in demand (26%), and COVID-19 (22%).
  • Of those who had exported before, 88% had exported to the EU in the last 5 years, making it the most common export destination. 58% of businesses said they had previously exported to one of the United States, United Arab Emirates, Canada, India or Mexico (designated as core markets in the 2022 NSRB survey).
  • 66% of current exporters experienced ‘significant’ supply chain issues in 2022, slightly below 2021 (70%), but still markedly above 2020 (44%). 17% of current exporters attributed supply chain issues mainly to COVID-19, while 16% attributed them mainly to the EU Exit. 28% regarded both events as equally causing their supply chain issues.
  • Exporting behaviour differs across the UK’s nations and regions. In England, the region with the highest proportion of current exporters were the East Midlands (44%) and North East (43%), whilst the South East (excluding London) had the lowest, with 28% of the region being current exporters. The proportion of current exporters in Wales and Scotland were 20% and 33% respectively. Businesses in Northern Ireland (59%) were most likely to be current exporters than those in other UK regions, however, a considerable proportion (31%) had only exported to the Republic of Ireland in the past 12 months.
  • For exporters and potential exporters, time (36%) and cost (32%) were the factors most likely to be seen as strong barriers to exporting.
  • Almost half of businesses stated that they had imported in the last 12 months (43%). Of these, just under half had imported from at least one of the core markets (United States, United Arab Emirates, Canada, India or Mexico) in the last 5 years (47%).
  • When asked about free trade agreements, 58% of businesses expected them to have no effect on their business (up from 54% in 2021), whilst 31% believed that they would have a positive effect (33% in 2021).
  • Agreement that there is a lot of demand for UK products or services around the world declined in 2022, with 55% in agreement, down from a high of 73% in 2017.
  • In 2022, 24% of businesses had a high level of knowledge of how to export, in line with 2021 (21%). A similar level (23%) reported low knowledge, a significant decrease from 2021 (30%). Knowledge around where to go for information about exporting and where to go for help and support with exporting has remained broadly stable since 2018.

5. Goods exports

  • Exports of goods were £394.8 billion in 2023, representing 45.7% of total UK exports. More timely data shows the value of UK goods exports was £390.0 billion in the 12 months ending February 2024, representing 45.3% of total UK exports.(Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).

5.1 UK goods exports (current prices)

Source: ONS UK Trade, February 2024

  • Goods exports decreased by 7.2% in 2023, compared to 2022. Since 2013, goods exports have increased by 31.7% (in current prices). More recent data shows that goods exports decreased by 10.7% in the 12 months ending February 2024, following a 27.9% increase in the 12 months ending February 2023 and a 12.7% increase in the 12 months ending February 2022. (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).

  • Exports of goods to the EU decreased by 5.4% in 2023, whilst exports of goods to the non-EU decreased by 8.7%. This follows a 25.0% increase in goods exports to the EU and a 31.5% increase in goods exports to the non-EU in 2022. More timely data shows that goods exports to the EU decreased by 8.3% in the 12 months ending February 2024, whilst exports to the non-EU decreased by 12.7%. (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).

  • In 2023 the UK’s largest export market for goods was the United States, accounting for 15.6% of total UK goods exports, followed by Germany (8.6%) and the Netherlands (7.8%). (Source: ONS UK Trade: February 2024), next release: ONS UK Trade: March 2024).

  • See ‘Top and emerging partner countries’ section for Top 10 UK export markets for goods in 2023.

5.2 Top 10 UK export markets for goods in the 12 months ending February 2024

Rank Export market £ billion % of total goods exports
1 United States 60.7 15.6%
2 Germany 33.5 8.6%
3 Netherlands 29.9 7.7%
4 Ireland 27.2 7.0%
5 France 24.2 6.2%
6 China 20.8 5.3%
7 Belgium 18.2 4.7%
8 Switzerland 12.4 3.2%
9 Italy 10.2 2.6%
10 Spain 9.8 2.5%
N/A EU 184.2 47.2%
N/A Non-EU 205.9 52.8%
N/A World 390.0 100.0%

Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024.

5.3 Fastest-growing markets for UK exports of goods between 2013 and 2023 (current prices)1

Rank Export market Value in 2023 (£ billion) % change between 2013 and 2023
1 North Macedonia 1.3 203.9%
2 Qatar 3.9 126.5%
3 Switzerland 12.9 90.1%
4 Poland 7.2 87.1%
5 New Zealand 1.1 82.7%
6 Turkey 7.2 81.2%
7 Egypt 1.7 79.3%
8 Canada 7.2 78.6%
9 China 21.4 76.1%
10 Hong Kong 9.9 65.3%

Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024.

Notes:

  1. Only including those with more than £1.0 billion in value in the latest calendar year for which data is available.

5.4 Top 10 UK goods exports in the 12 months ending February 2024, not seasonally adjusted1

Rank Commodity (SITC division) Division £ billion % of total goods exports
1 Cars 78M 36.9 9.4%
2 Mechanical power generators (intermediate) 71MI 35.4 9.0%
3 Medicinal & pharmaceutical products 54 25.9 6.6%
4 Crude oil 33O 19.0 4.8%
5 Unspecified goods 9 18.1 4.6%
6 Refined oil 33R 13.2 3.4%
7 Aircraft 792 11.9 3.0%
8 Scientific instruments (capital) 87K 11.8 3.0%
9 Non-ferrous metals 68 11.6 3.0%
10 Beverages & tobacco 1 11.2 2.9%
N/A Total goods exports1 N/A 391.0 100.0%

Source: ONS UK Trade: February 2024 next release: ONS UK Trade: March 2024

Notes:

  1. Total goods exports above does not match the figure in the statistical summary sheet. Totals in the statistics summary sheet should be preferred.

5.5 Number of goods exporters and export value by region in 2023, not seasonally adjusted1,2,3,4

Country/Region Goods exports (£ billion) Number of goods exporters
North East 13.6 2,388
North West 31.9 11,054
Yorkshire and The Humber 19.2 8,417
East Midlands 27.5 8,733
West Midlands 34.9 10,495
East of England 32.2 11,939
London 38.6 21,888
South East 41.4 18,511
South West 23.7 9,310
England 263.0 102,735
Wales 19.4 3,220
Scotland 33.3 5,781
Northern Ireland 10.9 7,483

Source: HMRC Regional Trade Statistics: Q4 (Oct - Dec) 2023, next release: HMRC Regional Trade Statistics: Q1 (Jan - Mar) 2024.

Notes:

  1. £39.1 billion goods exports could not be allocated to a region in 2023.
  2. Export values for each region may not sum to country totals due to rounding.
  3. Data on the number of businesses is reported on a proportion basis. This means a business count is subdivided into fractions based on their proportion of trade by value in each region. Each business counts as 1, subdivided across all regions in which they trade.
  4. A new method for EU business counts has been introduced by HMRC, which results in a break in series from previous EU business counts. EU and total business counts from the 2021 data period onwards are therefore not comparable with business counts published prior to 2021.

6. Services exports

  • In 2023, UK exports of services were £469.8 billion, representing 54.3% of total UK exports. More timely data shows the value of UK services exports was £471.6 billion in the 12 months ending February 2024, representing 54.7% of total UK exports. (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).

  • Services exports in 2023 have increased by 95.9% since 2013 and have increased by 13.9% since 2022 (in current prices). In the 12 months ending February 2024 services exports had increased by 9.9%, following a 22.3% increase in the 12 months ending February 2023 and a 14.9% increase in the 12 months ending February 2022. (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).

  • Exports of services to the non-EU increased by 12.9% to £298.7 billion between 2022 and 2023, while exports to the EU increased by 15.8% to £171.1 billion. This follows an increase of 17.9% in services exports to the non-EU, and an increase of 22.7% in services exports to the EU between 2021 and 2022. (Source: ONS Balance of Payments: Quarter 4 (Oct to Dec) 2023, next release: ONS Balance of Payments: Quarter 1 (Jan to Mar) 2024).

6.1 UK services exports (current prices)

Source: ONS Balance of Payments, UK: Oct to Dec 2023

6.2 Top 10 UK export markets for services in 12 months ending September 20231

Rank Export market £ billion % of total services exports
1 United States 130.1 27.8%
2 Ireland 28.3 6.1%
3 Germany 26.4 5.6%
4 Netherlands 22.1 4.7%
5 France 19.8 4.2%
6 Switzerland 18.0 3.9%
7 Luxembourg 11.7 2.5%
8 China 10.4 2.2%
9 Spain 10.1 2.2%
10 India 9.2 2.0%
N/A EU1 169.4 36.2%
N/A Non-EU1 298.4 63.8%
N/A World1 467.8 100.0%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

6.3 Fastest-growing markets for UK exports of services between 2012 and 2022 (current prices)1

Rank Export market Value in 2022 (£ billion) % change between 2012 and 2022
1 India 7.9 209.4%
2 Luxembourg 11.3 205.3%
3 Gibraltar 3.7 203.8%
4 Taiwan 2.0 192.6%
5 South Korea 3.8 161.4%
6 Romania 1.4 158.1%
7 Guernsey 2.6 157.0%
8 Hong Kong 5.7 143.3%
9 United States 115.9 141.3%
10 Singapore 7.5 136.4%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023

Notes:

  1. Only including those with more than £1.0 billion in value in the latest calendar year for which data is available.

6.4 Value of services exports from the UK by country/region, 20211,2

Country/Region Services exports (£ billion) Share (%)
North East 5.3 1.6%
North West 24.5 7.4%
Yorkshire and The Humber 12.2 3.7%
East Midlands 7.9 2.4%
West Midlands 13.9 4.2%
East of England 22.4 6.8%
London 152.2 46.0%
South East 45.2 13.7%
South West 13.0 3.9%
England 296.6 89.7%
Wales 6.8 2.1%
Scotland 23.2 7.0%
Northern Ireland 4.1 1.2%

Source: ONS International trade in UK nations, regions and cities: 2021, experimental statistics, next release: ONS International trade in UK nations, regions and cities: 2022, experimental statistics.

Notes:

  1. These are experimental statistics.
  2. Value of services exports for each region may not sum to country totals due to rounding.

6.5 Number of services exporters in Great Britain, 20211,2,3

Country/region Number of services exporters Share (%)
Great Britain 197,100 100.0%
North East 2,300 1.1%
North West 11,800 6.0%
Yorkshire and The Humber 7,400 3.8%
East Midlands 3,800 1.9%
West Midlands 11,000 5.6%
East of England 22,700 11.5%
London 66,900 33.9%
South East 40,800 20.7%
South West 16,800 8.5%
England 183,500 93.1%
Wales 3,200 1.6%
Scotland 10,300 5.2%

(Source: ONS Non-financial business economy, exporters and importers in Great Britain (Annual Business Survey): 2021, next release: ONS Non-financial business economy, exporters and importers in Great Britain (Annual Business Survey): 2022).

Notes:

  1. These are experimental statistics. Estimates do not cover all businesses. They only cover registered businesses (for VAT/PAYE) in Great Britain non-financial economy (meaning they largely exclude financial, agriculture and government activities).
  2. The number of services exporters may not sum to country totals due to rounding.
  3. Data for 2021 are based on a response rate of 68% of businesses in the sample, compared to 78% for 2018. This increases the level of uncertainty around the estimates, as certain groups in the sample do not have the degree of representation required. It is strongly recommended that figures for 2021 are not compared to figures from previous years.

7. Total (goods and services) imports

  • The value of total UK imports was £897.9 billion in 2023, down 0.7% on 2022. More timely data shows the value of UK imports were £892.8 billion in the 12 months ending February 2024, down 2.6% on the previous 12 months. (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).

7.1 UK imports of goods and services (current prices)

Source: ONS UK Trade, February 2024

7.2 UK imports from the EU and non-EU (current prices)

Source: ONS Balance of Payments, UK: Oct to Dec 2023

7.3 Top 20 UK import markets for goods and services in 20221

Source: Seasonally adjusted data from UK trade, quarterly trade in goods and services tables: July to September 2023 release

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

7.4 Top 10 UK import markets (for goods and services) in the 12 months ending September 20231

Rank Import market £ billion % of total imports
1 United States 122.0 13.5%
2 Germany 87.3 9.7%
3 Netherlands 67.4 7.5%
4 China 63.5 7.0%
5 France 58.9 6.5%
6 Spain 43.5 4.8%
7 Norway 34.4 3.8%
8 Italy 32.5 3.6%
9 Belgium 32.3 3.6%
10 Ireland 32.0 3.6%
N/A EU1 463.3 51.4%
N/A Non-EU1 437.7 48.6%
N/A World1 901.0 100.0%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023 next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023.

Notes:

  1. World, EU, and non-EU totals above may not always match figures in the statistical summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

7.5 Fastest-growing markets for UK imports of goods and services between 2012 and 2022 (current prices)1

Rank Import market Value in 2022 (£ billion) % change between 2012 and 2022
1 Moldova 1.4 1,932.4%
2 Faroe Islands 1.9 1,273.4%
3 Peru 3.1 892.1%
4 Croatia 1.4 275.7%
5 Kazakhstan 1.8 255.4%
6 Romania 6.0 228.1%
7 Latvia 1.5 208.5%
8 Bulgaria 2.0 201.7%
9 Luxembourg 5.9 167.2%
10 Mexico 3.1 163.8%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023.

Notes:

  1. Only including those with more than £1.0 billion in value in the latest calendar year for which data is available.

7.6 Global import rankings

(Source: UNCTAD Goods and Services (BPM6): Exports and imports of goods and services, annual, next release: UNCTAD Goods and Services (BPM6): Exports and imports of goods and services, annual)

In 2022* the UK ranked:

  • fourth in the world for imports of goods and services (up from sixth in 2021)
  • sixth in the world for goods imports (no change from 2021)
  • fifth in the world for services imports (no change from 2021)

7.7 World rankings for imports of goods and services

Source: UNCTAD

*Much of the 2022 data on which these rankings are based are modelled/estimated.

7.8 Current estimates and forecasts of real import growth

  • In real terms, UK imports decreased by 1.5% in 2023, following an increase of 14.6% in 2022. Comparing the 12 months ending February 2024 with the previous 12 months, UK imports decreased by 1.2%. This followed a 10.4% increase in UK imports in the 12 months ending February 2023. (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024)
  • The IMF forecasts the volume of UK imports of goods and services is expected to decrease by 0.7% in 2024 (this is revised down from the 1.2% growth that was forecast in the October 2023 update), and then decrease by 0.2% in 2025. (Source: IMF World Economic Outlook - April 2024).

7.9 UK import volume growth forecasts (%)1

International Organisation 2024 2025
IMF1 (goods and services) -0.7 -0.2%
OECD (goods and services) 1.5 1.1

Source: IMF World Economic Outlook - April 2024 and OECD Economic Outlook - February 2024

8. Goods imports

  • In 2023, UK imports of goods were £581.5 billion (accounting for 64.8% of total UK imports), up 36.9% on 2013 and down 9.5% on 2022 (in current prices). More timely data shows the value of UK goods imports was £571.8 billion in the 12 months ending February 2024, down 10.9% on the previous 12 months.(Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).

8.1 UK goods imports (current prices)

Source: ONS UK Trade, February 2024

8.2 Top 10 UK import markets for goods in the 12 months ending February 2024

Rank Import market £ billion % of total goods imports
1 Germany 73.9 12.9%
2 United States 55.0 9.6%
3 China 53.3 9.3%
4 Netherlands 52.2 9.1%
5 France 40.3 7.0%
6 Belgium 28.8 5.0%
7 Norway 24.5 4.3%
8 Italy 24.0 4.2%
9 Spain 20.0 3.5%
10 Ireland 19.4 3.4%
N/A EU 318.0 55.6%
N/A Non-EU 253.9 44.4%
N/A World 571.8 100.0%

Source: ONS UK Trade: February 2024 next release: ONS UK Trade: March 2024

8.3 Fastest-growing markets for UK imports of goods between 2013 and 2023 (current prices)1

Rank Import market Value in 2023 (£ billion) % change between 2013 and 2023
1 Peru 1.3 484.5%
2 Romania 3.9 176.6%
3 Morocco 1.4 171.0%
4 Greece 1.7 138.3%
5 United States 57.8 98.9%
6 Turkey 11.3 89.5%
7 China 55.8 78.2%
8 Egypt 1.3 68.6%
9 Portugal 3.3 68.0%
10 France 40.7 67.5%

Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024.

Notes:

  1. Only including those with more than £1.0 billion in value in the latest calendar year for which data is available.

8.4 Top 10 UK goods imports in the 12 months ending February 2024, not seasonally adjusted1

Rank Commodity (SITC division) Division Value (£ billion) % of total goods imports
1 Cars 78M 40.4 7.1%
2 Refined oil 33R 27.9 4.9%
3 Mechanical power generators (intermediate) 71MI 26.3 4.6%
4 Medicinal & pharmaceutical products 54 25.4 4.4%
5 Crude oil 33O 25.4 4.4%
6 Miscellaneous electrical goods (intermediate) 77I 20.8 3.6%
7 Gas 34 16.8 2.9%
8 Telecoms & sound equipment (capital) 76K 16.6 2.9%
9 Clothing 84 15.2 2.7%
10 Other manufactures (consumer) 89OC 14.1 2.5%
N/A Total goods imports1 N/A 571.1 100.0%

Source: ONS UK Trade: February 2024 next release: ONS UK Trade: March 2024

Notes:

  1. Total goods imports above does not match the figure in the statistical summary sheet. Totals in the statistics summary sheet should be preferred.

8.5 Number of goods importers and import value by region in 2023, not seasonally adjusted1,2,3,4

Country/Region Goods imports (£ billion) Number of goods importers
North East 15.5 4,246
North West 45.7 22,730
Yorkshire and The Humber 39.5 14,115
East Midlands 33.5 14,039
West Midlands 42.5 17,286
East of England 50.3 20,408
London 82.6 52,313
South East 110.8 32,934
South West 29.0 15,830
England 449.3 193,901
Wales 21.3 12,061
Scotland 29.9 11,013
Northern Ireland 9.6 15,189

Source: HMRC Regional Trade Statistics: Q4 (Oct - Dec) 2023, next release: HMRC Regional Trade Statistics: Q1 (Jan - Mar) 2024.

Notes:

  1. £87.5 billion goods imports could not be allocated to a region in 2023.
  2. Values of imports for each region may not sum to country totals due to rounding.
  3. Data on the number of businesses is reported on a proportion basis. This means a business count is subdivided into fractions based on their proportion of trade by value in each region. Each business counts as 1, subdivided across all regions in which they trade.
  4. A new method for EU business counts has been introduced by HMRC, which results in a break in series from previous EU business counts. EU and total business counts from the 2021 data period onwards are therefore not comparable with business counts published prior to 2021.

9. Services imports

  • UK imports of services were £316.4 billion in 2023 (accounting for 35.2% of total UK imports), up 125.7% on 2013 and up 20.7% on 2022 (in current prices). More timely data shows the value of UK services imports was £321.0 billion in the 12 months ending February 2024, up 16.6% on the previous 12 months. (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).

9.1 UK services imports (current prices)

Source: ONS Balance of Payments, UK: Oct to Dec 2023

9.2 Top 10 UK import markets for services in 12 months ending September 20231

Rank Import market £ billion % of total services imports
1 United States 59.1 19.2%
2 Spain 24.3 7.9%
3 France 19.2 6.2%
4 Germany 14.3 4.6%
5 India 13.2 4.3%
6 Netherlands 11.8 3.8%
7 Ireland 11.7 3.8%
8 Switzerland 9.8 3.2%
9 Italy 8.8 2.9%
10 Poland 6.5 2.1%
N/A EU1 142.3 46.3%
N/A Non-EU1 165.3 53.7%
N/A World1 307.6 100.0%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023

Notes:

  1. World, EU and non-EU totals above may not match the figure in the statistical summary sheet. Totals in the statistics summary sheet should be preferred.

9.3 Fastest-growing markets for UK imports of services between 2012 and 2022 (current prices)1

Rank Import market Value in 2022 (£ billion) % change between 2012 and 2022
1 Moldova 1.4 5,085.2%
2 Romania 2.7 431.0%
3 Slovakia 1.1 430.0%
4 Croatia 1.0 278.5%
5 Mexico 1.7 267.3%
6 India 9.8 265.4%
7 Bulgaria 1.3 262.0%
8 Luxembourg 5.2 234.9%
9 Turkey 4.1 193.6%
10 Switzerland 9.0 187.2%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023

Notes:

  1. Only including those with more than £1.0 billion in value in the latest calendar year for which data is available.

9.4 Value of services imports to the UK by country/region, 20211,2

Country/Region Services imports (£ billion) Share (%)
North East 3.2 1.7%
North West 16.4 8.7%
Yorkshire and The Humber 7.6 4.0%
East Midlands 5.8 3.1%
West Midlands 8.4 4.4%
East of England 15.9 8.4%
London 75.9 40.0%
South East 24.6 13.0%
South West 8.5 4.5%
England 166.2 87.7%
Wales 3.8 2.0%
Scotland 11.4 6.0%
Northern Ireland 1.6 0.8%

Source: ONS International trade in UK nations, regions and cities: 2021, experimental statistics, next release: ONS International trade in UK nations, regions and cities: 2022, experimental statistics.

Notes:

  1. These are experimental statistics.
  2. Value of services imports for each region may not sum to country totals due to rounding.

9.5 Number of services importers in Great Britain, 20211,2,3

Country/region Number of services importers Share (%)
Great Britain 163,000 100.0%
North East 1,700 1.0%
North West 8,100 5.0%
Yorkshire and The Humber 7,700 4.8%
East Midlands 4,700 2.9%
West Midlands 12,300 7.5%
East of England 16,500 10.1%
London 48,300 29.6%
South East 36,200 22.2%
South West 13,700 8.4%
England 149,200 91.6%
Wales 5,100 3.2%
Scotland 8,600 5.3%

(Source: ONS Non-financial business economy, exporters and importers in Great Britain (Annual Business Survey): 2021, next release: ONS Non-financial business economy, exporters and importers in Great Britain (Annual Business Survey): 2022).

Notes:

  1. These are experimental statistics. Estimates do not cover all businesses. They only cover registered businesses (for VAT/PAYE) in Great Britain non-financial economy (meaning they largely exclude financial, agriculture and government activities).
  2. The number of services importers may not sum to country totals due to rounding.
  3. Data for 2021 are based on a response rate of 68% of businesses in the sample, compared to 78% for 2018. This increases the level of uncertainty around the estimates, as certain groups in the sample do not have the degree of representation required. It is strongly recommended that figures for 2021 are not compared to figures from previous years.

10. UK trade in services by modes of supply

The different modes of supply

Mode 1 – Remote trade is where a supplier in one country sells a service to a customer in another, but without the movement of people.

Mode 2 – Consumption abroad is where the person receiving the service travels to the supplier’s country.

Mode 3 – Commercial presence is where a company sets up a subsidiary abroad to supply services to foreign customers directly in that country.

Mode 4 – Presence of natural persons is where a supplier sends its personnel to the customer’s country to provide services.

Note that estimates of services trade supplied by Modes 1, 2, and 4 are derived on a balance of payments basis and form the total of UK services trade. Mode 3 is derived using Foreign Affiliates Statistics and is not counted as part of UK services trade (and so is not included in figures reported here).

10.1 Percentage of UK services exports delivered by each mode of supply 20211

Region Mode 1  Mode 2  Mode 4 
World  76.8% 13.4% 9.8%
EU  76.6% 13.9% 9.5%
Non-EU  76.9% 13.1% 9.9%

10.2 Percentage of UK services imports delivered by each mode of supply 20211

Region Mode 1  Mode 2  Mode 4 
World  72.8% 17.0% 10.2%
EU  64.9% 24.5% 10.6%
Non-EU  78.6% 11.4% 10.0%

Source: UK Trade in services by modes of supply: 2021, next release: UK Trade in services by modes of supply: 2022.

Notes:

  1. These are experimental statistics.

11. Trade balance

  • In 2023 the UK trade deficit was £33.4 billion, having narrowed by £33.5 billion since 2022. More timely data shows that the balance was a deficit of £31.1 billion in the 12 months ending February 2024 having narrowed by £19.8 billion since the 12 months ending February 2023 (Source: ONS UK Trade: February 2024, next release: ONS UK Trade: March 2024).

11.1 Top 10 UK surpluses in goods and services in the 12 months ending September 2023

Rank Partner countries with largest surpluses £ billion
1 United States 71.1
2 Ireland 25.6
3 Switzerland 16.6
4 Australia 9.1
5 Hong Kong 8.6
6 Saudi Arabia 8.0
7 Singapore 7.2
8 Canada 6.9
9 Luxembourg 5.9
10 United Arab Emirates 5.9
N/A Non-EU 86.4

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023 next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023

11.2 Top 10 UK deficits in goods and services in the 12 months ending September 20231

Rank Partner countries with largest deficits £ billion
1 Germany -26.8
2 China -26.0
3 Norway -24.7
4 Spain -23.7
5 France -14.3
6 Italy -14.3
7 Netherlands -12.1
8 Poland -9.5
9 India -8.3
10 Belgium -6.9
N/A EU1 -104.3

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023 next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023

Notes:

  1. Totals in the table above may not match totals reported in the statistics summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

12. Total trade

12.1 Top 10 UK trading partners in 12 months ending September 2023 (exports plus imports of goods and services)1

Rank Partner country £ billion % of total trade
1 United States 315.1 17.7%
2 Germany 147.7 8.3%
3 Netherlands 122.7 6.9%
4 France 103.4 5.8%
5 China 100.9 5.7%
6 Ireland 89.6 5.0%
7 Spain 63.2 3.5%
8 Belgium 57.6 3.2%
9 Switzerland 55.2 3.1%
10 Italy 50.7 2.8%
N/A EU1 822.2 46.1%
N/A Non-EU1 961.9 53.9%
N/A World1 1,784.1 100.0%

Source: ONS UK trade, quarterly trade in goods and services tables: July to September 2023, next release: ONS UK trade, quarterly trade in goods and services tables: October to December 2023

Notes:

  1. Totals in the table above may not match totals reported in the statistics summary sheet due to timings of release of the different sources used. Totals in the statistics summary sheet should be preferred.

13. World trade forecasts

13.1 World trade

13.2 World trade volume growth forecasts (%)

International Organisation 2024 2025
IMF1 (goods and services) 3.0% 3.3%
WTO (goods only) 2.6% 3.3%
OECD (goods and services) 2.7% 3.3%

Sources: IMF World Economic Outlook - April 2024, WTO Trade Statistics and Outlook, April 2024 , and OECD Economic Outlook - February 2024.

14. Current account balance

14.1 Components of Current Account - balances as a percentage of GDP (current prices)

Source: ONS Balance of Payments, UK: Oct to Dec 2023

14.2 UK current account balance with the EU and non-EU (current prices)

Source: ONS Balance of Payments, UK: Oct to Dec 2023

15. Trade in value added

(Source: OECD Trade in Value Added: 1995-2020, experimental statistics, 2023 edition, next release: OECD Trade in Value Added).

  • The OECD updated its Trade in Value Added (TiVA) estimates for 1995-2020 due to errors discovered in the previous release published in November 2023.

  • TiVA is an innovative dataset that makes it possible to examine aspects of international trade, such as Global Value Chains (GVCs), that are not possible with conventional (‘gross’) measures of trade. The novelty of this dataset is that it regards international trade as flows of value added rather than gross flows of final goods and services, enabling users to track the origin of value added in a country’s exports and final demand by source country and sector.

  • It is important to note that, while TiVA offers many advantages over traditional ways of measuring trade, it has limitations in its current form. The estimates are based on a number of strong assumptions, imputations and modelling and offer only broad insights into supply chain interactions. In addition, the estimates for the most recent years, particularly 2020, should be interpreted with caution as they are based on extrapolated Supply Use Tables. The OECD advises that over-interpretation of the results should be avoided and the estimates should be considered as complements to traditional trade statistics.

  • The UK left the EU at the end of 2020, so was a member state for this time period.

15.1 Backward linkages for exports

  • Backward linkages for exports measure how dependent UK exporters are on imported inputs for the production of their exports. A headline measure of backward linkages, and a gauge of the extent of a country’s participation in GVCs, is the share of foreign value added embodied in a country’s gross exports (or ‘import content of exports’).

  • The TiVA data suggest that the UK has relatively weak backward linkages i.e. it is not heavily dependent on imported intermediate inputs for the production of its exports. The import content of UK’s exports has fallen gradually in recent years, from a peak of 18.1% in 2011 to 14.3% in 2020, in line with the global trend. Other major developed economies, such as the United States, France, Germany and Japan, have also experienced a decline in GVC participation in recent years, partly reflecting the impact of the pandemic.

  • Between 2019 and 2020, the import content of UK’s exports has declined significantly by 1.4 percentage points. Additional years’ worth of data alongside improved/ updated underlying estimates published by national statistical agencies are required to provide a more accurate picture of the effect of the pandemic on GVCs.

  • In 2020, the UK’s import content of exports was well below the OECD average of 27%, with the UK ranking 58th out of 76 economies in the TiVA dataset on this measure. However, this should not be interpreted as a sign of lack of integration in GVCs or lack of competitiveness. Several factors affect a country’s participation in GVCs, including the size of the economy, patterns of specialisation, trade openness and location. Care is therefore needed when interpreting the TiVA data. Participation in GVCs should be evaluated in terms of each country’s economic context; the UK’s relatively low backward participation partly reflects its specialisation in services exports which tend to have lower import content relative to manufacturing exports. Large and successful economies, such as the US, rank even lower (74th) than the UK in terms of GVC participation.

  • In proportional terms, the UK sectors that were most reliant on foreign value added for their exports in 2020 were coke and refined petroleum (with foreign value added accounting for 52.7% of this sector’s gross exports), motor vehicles (33.0%) and basic metals (29.0%).

  • The UK is more reliant on non-EU than EU suppliers of intermediate goods and services for the production of its exports. In 2020, 57% of all foreign inputs used in UK exports originated from non-EU countries (43% originated from the EU). The largest suppliers of inputs for UK exporters in 2020 were the United States (supplying 16.8% of all foreign inputs used in UK exports), Germany (10.5%), China (8.4%), France (6.3%) and Ireland (4.2%).

  • The majority of UK exporting sectors are more dependent on imported inputs from non-EU countries than the EU. The only UK sectors that depend more on inputs from the EU than the non-EU for their export production are motor vehicles; food, beverages and tobacco; accommodation and food service activities; wood products; and paper and printing.

15.2 Foreign value added (import content) share of gross exports (%), 1995 to 2020

Source: OECD Trade in Value Added database, experimental statistics

15.3 Forward linkages for exports

  • Forward linkages measure the contribution of UK exporters as suppliers of inputs to exports of other countries. They provide a measure of how dependent UK suppliers of goods and services can be on export prospects abroad.

  • The UK has stronger forward linkages than backward linkages, indicating its more prominent role as a supplier of inputs rather than a user of inputs. In 2020, the UK ranked as the 13th most forward integrated country (out of the 76 countries in the TiVA database), with the headline measure (UK value added embodied in exports of other countries as % of UK exports) at 24.8%. This share has increased from 16.5% in 1995, suggesting a greater degree of integration of UK exporters in ‘downstream’ supply chains over time.

  • The UK has stronger forward linkages with EU countries (especially Ireland, Germany, Luxembourg, the Netherlands and France), with the EU accounting for around two thirds (66%) of all UK valued added embodied in foreign (world) exports in 2020. Outside of the EU, the UK has strong forward linkages with the United States, Singapore and China.

  • In the UK, the main suppliers of inputs to exporters are services sectors such as financial and insurance (accounting for 19.1% of total UK value added embodied in exports in 2020), professional, scientific and technical services (17.2%), administrative and support services (11.6%) and wholesale and retail trade services (10.4%). The contribution from the UK manufacturing sector is around 13%, with the chemicals, machinery and equipment, and fabricated metals sectors being the largest sources of inputs for exporters. The UK mining and quarrying energy producing sector is also a significant supplier, contributing around 4% to the total UK value added embodied in exports.

  • The UK source sectors that are most dependent on supplying inputs to EU exporters (and hence demand conditions in this bloc) in 2020 were agriculture, hunting and forestry; mining and quarrying, energy producing; and food, beverages and tobacco. The only UK source sectors that supply more inputs to non-EU than EU exporters were water transport, and other transport equipment.

15.4 Importance of services

  • Services are traded not only directly across borders, but also indirectly embodied in goods exports. For example, UK engineering services that are part of the production of a car are exported indirectly embodied in the export of the car. This indirect trade in services is reflected in TiVA statistics but not in traditional trade statistics. As a result, TiVA provides a more accurate estimate of the services sector contribution to exports. As services are increasingly embedded in manufacturing exports, policies to encourage services trade liberalisation can improve the export competitiveness of not just services industries but also manufacturing industries.

  • Accounting for the value added of services in the production of goods, the TiVA data reveal that services are more important to UK exports than they appear in traditional trade statistics. In value added terms, the share of services in total UK exports was 78.8% in 2020, significantly above the OECD average of 58.9.%, and around 4.5 percentage points higher than in traditional terms (74.3%). The difference is driven partly by the contribution of services inputs to UK manufacturing exports; the share of services value added in UK manufacturing gross exports was 35.2% in 2020.

15.5 Bilateral trade balances

  • Measuring trade in value added terms does not affect the overall trade balance of a country. However, bilateral trade balances with individual trading partners can look different when measured on a value added basis. Compared to gross terms, the UK’s trade surplus with non-EU countries is bigger when measured in value added terms. Correspondingly, the UK’s trade deficit with EU countries is bigger in value added terms.

  • In gross terms, the United States (15.7% market share), Ireland (8.3%), Germany (7.6%), France (6.3%) and China (4.9%) ranked as the UK’s top 5 export destinations in 2020. In value added terms (i.e. as final consumers of UK value added exports), these countries remain in the top-5 UK export destinations, with the United States ranked top with a 18.0% market share, followed by Germany (7.0%), China (6.2%), France (6.2%) and Ireland (4.8%). In value added terms, the importance of non-EU export markets, such as the United States, China and Japan, is amplified while the market share of EU countries such as Germany, France, Ireland and the Netherlands is reduced.

  • The smaller importance of EU countries in value added terms should not be taken as an indication of a lower reliance of the UK on demand and supply from EU countries; these countries act as conduits for a sizeable amount of UK value added exported to non-EU countries. Similarly, non-EU countries access the UK market via the EU.

16. FDI (Foreign Direct Investment) statistics

To note: the ONS have implemented several improvements to their FDI survey methodology for the 2020 release. Changes to stratification methods and sampling population increases have affected the results and led to an increase in reported FDI figures, particularly for inward FDI, in 2020.

As a result of these improvements, we advise caution when interpreting the 2021 results as some increases since 2019 may be due to the methodology changes.

16.1 Inward FDI

16.2 UK inward FDI stock, flows and earnings tables1,2

Inward FDI stock (£ billion, in current prices):

Region 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total 749 913 918 1,013 1,033 1,187 1,392 1,573 1,641 1,919 2,002
EU 366 452 462 490 441 552 591 617 656 705 685
Non-EU 382 461 456 523 592 636 801 956 985 1,214 1,317

Inward FDI flows (£ billion, in current prices):

Region 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total 26 35 33 15 25 192 75 66 42 35 -52
EU -24 15 0 3 -14 130 21 -13 36 28 -24
Non-EU 50 20 34 12 39 62 54 78 6 7 -28

Inward FDI earnings (£ billion, in current prices):

Region 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total 45 46 51 48 48 50 58 75 45 56 72
EU 17 21 25 24 18 16 26 29 15 10 17
Non-EU 29 25 26 24 30 35 32 46 31 46 55

Source: ONS Foreign direct investment involving UK companies: 2021, next release: ONS Foreign direct investment involving UK companies: 2022.

Notes:

  1. Data compiled according to directional method.
  2. A negative sign before values indicates a net disinvestment.

16.3 Top 10 investors in the UK, 2021 (inward FDI stock)1,2,3

Rank FDI partner £ billion % of total inward FDI stock
1 United States 675.7 33.7%
2 Netherlands 217.5 10.9%
3 Jersey 192.0 9.6%
4 Luxembourg 121.3 6.1%
5 France 100.9 5.0%
6 Japan 92.0 4.6%
7 Belgium 88.8 4.4%
8 Switzerland 74.4 3.7%
9 Bermuda 68.0 3.4%
10 Canada 42.4 2.1%
N/A EU 685.1 34.2%
N/A Non-EU 1,317.3 65.8%
N/A World 2,002.4 100.0%

Source: ONS Foreign Direct Investment (FDI) totals for inwards and outward flows, positions and earnings, 2020 to 2021, next release: ONS Foreign direct investment involving UK companies: 2022.

Notes:

  1. Data are on a directional basis.
  2. Data are on a net basis meaning investments minus disinvestments.
  3. Rankings are affected by the fact that FDI statistics are currently compiled on the basis of immediate, rather than ultimate, partner country. This often leads to an overstatement of investments in or from big financial centres (such as Luxembourg and the Netherlands) or countries offering favourable tax terms to investors.

16.4 Global rankings (inward FDI stock)

(Source: UNCTAD World Investment Report 2023, next release: UNCTAD World Investment Report 2024)

In 2022, the UK was:

  • the third highest destination for investment in the world (up from fourth in 2021, overtaking the Netherlands who were third in 2021). The United States remained first, holding the highest inward FDI stock in the world with China second

  • the highest destination for investment in Europe

16.5 Outward FDI

16.6 UK outward FDI stock, flows and earnings tables1,2

Outward FDI stock (£ billion, in current prices):

Region 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total 1,118 1,073 1,091 1,079 1,084 1,275 1,369 1,453 1,652 1,753 1,769
EU 557 505 455 445 456 578 597 607 669 703 714
Non-EU 561 569 636 634 628 696 773 846 983 1,050 1,055

Outward FDI flows (£ billion, in current prices):

Region 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total 60 13 26 -91 -43 -28 111 62 9 -75 62
EU 25 -5 -12 -83 -13 -26 18 6 -9 -14 -10
Non-EU 34 19 38 -8 -30 -2 93 57 18 -61 72

Outward FDI earnings (£ billion, in current prices):

Region 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total 99 81 79 68 57 51 88 94 102 50 135
EU 37 23 24 17 17 20 30 29 31 17 35
Non-EU 62 58 55 51 41 31 59 65 71 33 100

Source: ONS Foreign direct investment involving UK companies: 2021, next release: ONS Foreign direct investment involving UK companies: 2022.

Notes:

  1. Data compiled according to directional method.
  2. A negative sign before values indicates a net disinvestment.

16.7 Top 10 destinations for UK FDI, 2021 (outward FDI stock)1,2,3

Rank FDI partner £ billion % of total outward FDI stock
1 United States 461.4 26.1%
2 Netherlands 155.2 8.8%
3 Luxembourg 127.2 7.2%
4 Spain 95.9 5.4%
5 France 91.6 5.2%
6 Hong Kong 77.6 4.4%
7 Ireland 70.2 4.0%
8 Switzerland 52.2 2.9%
9 Jersey 44.7 2.5%
10 Australia 41.0 2.3%
N/A EU 714.0 40.4%
N/A Non-EU 1,055.3 59.6%
N/A World 1,769.3 100.0%

Source: ONS Foreign Direct Investment (FDI) totals for inwards and outward flows, positions and earnings, 2020 to 2021, next release: ONS Foreign direct investment involving UK companies: 2022.

Notes:

  1. Data are on a directional basis.
  2. Data are on a net basis meaning investments minus disinvestments.
  3. Rankings are affected by the fact that FDI statistics are currently compiled on the basis of immediate, rather than ultimate, partner country. This often leads to an overstatement of investments in or from big financial centres (such as Luxembourg and the Netherlands) or countries offering favourable tax terms to investors.

16.8 Global rankings (outward FDI stock)

(Source: UNCTAD World Investment Report 2023, next release: UNCTAD World Investment Report 2024)

In 2022, the UK was:

  • the fourth largest global investor (the same as in 2021), behind the United States, Netherlands, and China

  • the second largest European investor, behind the Netherlands (unchanged from 2021)

17. Inward investment project statistics

17.1 DBT statistics

Source: DBT Inward investment results 2022/23, next release: DBT Inward investment results 2023/24.

  • DBT recorded 1,654 investment projects coming into the UK in 2022/23, up 4.1% from 1,589 in 2021/22.

  • Out of 1,654 investment projects coming into UK in 2022/23, 1,083 were supported by DBT, down 7.8% from 1,174 in 2021/22.

  • Out of all investment projects in 2022/23, 711 (43.0%) were made by new investors to the UK, and 943 (57.0%) by existing investors in the UK.

  • Inward investments projects coming into the UK are estimated to have created 79,549 new jobs and safeguarded 6,646 jobs, down 6.1% and down 14.4% in 2022/23 respectively.

  • Total estimated jobs created/safeguarded by inward investment projects was 86,195 in 2022/23, down 6.8% from 92,524 in 2021/22.

  • London was the UK region with the highest number of new jobs created by inward investment, an increase of NA% (20,647) in 2022/23. The highest growth of new created jobs was in the Yorkshire and The Humber, an increase of 97.4% in 2022/23.

  • The estimated economic impact of foreign direct investment projects involving DBT fell -18% in 2022/23 to £5.8 billion.

17.2 Regional breakdown for all FDI projects and involved FDI projects in 2022/231,2,3

Region FDI projects New jobs from all FDI projects Involved FDI projects New jobs from involved FDI projects
Multiple UK sites3 54 13,198 44 12,477
North East 61 3,047 42 2,900
North West 137 5,820 104 5,059
Yorkshire and The Humber 103 7,378 64 6,613
East Midlands 84 2,839 46 2,536
West Midlands 181 8,252 135 7,579
East of England 75 2,613 42 1,827
London 528 20,647 337 14,363
South East 130 3,941 69 2,892
South West 91 3,908 56 3,386
Scotland 130 3,428 76 2,921
Wales 47 3,062 41 2,811
Northern Ireland 33 1,416 27 1,269
Total 1,654 79,549 1,083 66,633

Source: DBT Inward investment results 2022/23, next release: DBT Inward investment results 2023/24.

Notes:

  1. FDI projects are investment projects where investment transactions take 3 main forms: new investment projects, expansions on existing investment projects, and merger and acquisition (M&A) projects.
  2. Involved FDI Projects are those assisted by the DBT network teams.
  3. Multiple UK site projects represent those investments which span more than 1 region.

18. Update schedule

Latest Next Source Date Status
ONS UK trade, quarterly trade in goods and services tables: July to September 2023 ONS UK trade, quarterly trade in goods and services tables: October to December 2023 Office for National Statistics 26 April 2024 Confirmed
UK Trade: February 2024 UK Trade: March 2024 Office for National Statistics 10 May 2024 Confirmed
GDP first quarterly estimate, UK: October to December 2023 GDP first quarterly estimate, UK: January to March 2024 Office for National Statistics 10 May 2024 Confirmed
UK Regional Trade in Goods Statistics: Q4 (Oct - Dec) 2023 UK Regional Trade in Goods Statistics: Q1 (Jan - Mar) 2024 HM Revenue and Customs 13 June 2024 Confirmed
Balance of Payments: Quarter 4 (Oct to Dec) 2023 Balance of Payments: Quarter 1 (Jan to Mar) 2024 Office for National Statistics 28 June 2024 Confirmed
GDP UK Quarterly National Accounts, October to December 2023 GDP UK Quarterly National Accounts, January to March 2024 Office for National Statistics 28 June 2024 Confirmed
ONS Foreign direct investment involving UK companies: 2021 ONS Foreign direct investment involving UK companies: 2022 Office for National Statistics 9 August 2024 Confirmed
OECD Economic Outlook - February 2024 OECD Economic Outlook Organisation for Economic Co-operation and Development TBC 2024 Unknown
IMF World Economic Outlook - April 2024 World Economic Outlook International Monetary Fund TBC 2024 Unknown
National Survey of Registered Businesses’ Exporting Behaviours, Attitudes and Needs 2022 National Survey of Registered Businesses’ Exporting Behaviours, Attitudes and Needs 2023 Department for Business and Trade TBC 2024 Unknown
ONS International trade in UK nations, regions and cities: 2021, experimental statistics ONS International trade in UK nations, regions and cities: 2022, experimental statistics Office for National Statistics TBC 2024 Unknown
World Investment Report 2023 World Investment Report 2024 United Nations Conference on Trade and Development TBC 2024 Unknown
Goods and Services (BPM6): Exports and imports of goods and services, annual, 2005-2022 Goods and Services (BPM6): Exports and imports of goods and services, annual, 2005-2022 United Nations Conference on Trade and Development TBC 2024 Unknown
ONS Non-financial business economy, exporters and importers in Great Britain (Annual Business Survey): 2021 ONS Non-financial business economy, exporters and importers in Great Britain (Annual Business Survey): 2022 Office for National Statistics May to June 2024 Provisional
WTO Trade Statistics and Outlook, October 2023 WTO Trade Statistics and Outlook World Trade Organisation TBC 2024 Unknown
DBT Inward investment results 2022/23 DBT Inward investment results 2023/24 Department for Business and Trade TBC 2024 Unknown
ONS Foreign Direct Investment (FDI) totals for inwards and outward flows, positions and earnings, 2020 to 2021 ONS Foreign Direct Investment (FDI) totals for inwards and outward flows, positions and earnings, 2021 to 2022 Office for National Statistics TBC 2024 Unknown
UK Trade in services by modes of supply: 2021 UK Trade in services by modes of supply: 2022 Office for National Statistics TBC 2024 Unknown
Trade in Value Added: 1995 to 2020, experimental statistics Trade in Value Added Organisation for Economic Co-operation and Development TBC Unknown