United Kingdom
EuropeTrade in United Kingdom
United Kingdom was the world’s 14th largest exporter of goods and 2nd largest exporter of commercial services in 2022. Export values were $532.98 billion and $494.44 billion USD respectively. United Kingdom’s top export category was Manufactures, followed by Machinery and transport equipment, and Fuels and mining products. In 2022, United Kingdom’s main export destination markets for goods and services trade were to United States, Germany and Ireland, with trade representing 69.52 per cent of GDP. In terms of imports, United Kingdom is the world’s 5th largest importer of goods and 5th largest importer of commercial services. Import values were $823.55 billion and $317.07 billion USD respectively in 2022. United Kingdom’s top import category was Manufactures, followed by Machinery and transport equipment and Fuels and mining products. Leading import partners were China, Germany and United States. United Kingdom is part of 38 different Regional Trade Agreements, including EU – United Kingdom and United Kingdom – Albania. |
General InformationThis section includes general information on the economy, legal system, official languages and links to additional demographic information. |
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Official Name |
United Kingdom of Great Britain and Northern Ireland |
Abbreviation |
GB |
Capital |
London |
WTO Membership Date |
1 January 1995 |
Legal System |
common law system; has nonbinding judicial review of Acts of Parliament under the Human Rights Act of 1998 |
Language |
English, Scots, Welsh, Irish |
Number of Time Zone(s) |
9 |
Additional Information | |
Financial InformationThis section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance. |
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Currency |
Sterling |
Exchange Rate |
Google Finance Currencies |
GTFP Confirming Banks Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited. |
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Contact InformationThis section includes contact information for business support organizations and national resources. |
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Business Support Organizations |
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Industrial Property Offices |
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SPS Enquiry Points Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements. |
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TBT Enquiry Points Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements. |
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Additional Information |
ePing alert |
Links to other helpful resourcesThis section includes additional links to trade-related resources. |
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National Tariff Finder |
https://www.gov.uk/trade-tariff |
Trade Information Portal |
https://www.uktradeinfo.com/ |
Last Reviewed: June, 2024
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