Revealed: How Brexit Britain’s soaring services sector is servicing the World

In 5 years since voting Leave, exports from the largest part of the UK economy are booming

Montage © Facts4EU.Org 2022

Massive increases in exports of services – to the USA, to the EU27, and to the Rest of the World

A Facts4EU.Org analysis of the latest export data

The latest data released by the Office for National Statistics shows how much Brexit Britain has completely confounded the Prophets of Project Doom since the United Kingdom voted for its independence from the EU in 2016.

In just five years, the UK’s exports of services have grown by an astonishing 37.4% worldwide. What is even more startling, exports of services to the EU27 have grown by an even higher percentage: 43.8%.

And to cap it all, services exports to the USA – remember President Obama’s “back of the queue” threat? – have soared by 55.6%.

Brexit Facts4EU.Org Summary

Growth in exports of services by Brexit Britain since the EU Referendum

To USA : +55.6%
To EU27 : +43.8%
To Asia: +22.0%
To the World: +37.4%

[ Data source: Office for National Statistics, Jan 2022 ]

Confounding the critics of Brexit with real-life, official facts

Facts4EU.Org has now analysed the figures on this critical area of the economy and can report the good news to readers.

What is even more extraordinary is that the data above goes up to 2020 – the first year of Covid - when businesses generally were under extreme pressure. (Data for services always lags behind data for trade in goods, and the EU also released its data up to 2020 at the same time as the ONS.)

It should be said that the ONS excludes travel and transport in its figures, which were of course badly hit in 2020, but then it also excludes banking – where the UK is dominant in Europe.

EU admits UK is its No.1= market, shared with the USA, for services

In tandem with the Office for National Statistics, the EU Commission’s statistics agency also released its figures for services exports for 2020.

A Facts4EU.Org analysis of the data reveals that the United Kingdom is an essential market for EU companies selling services. The UK accounts for 20% of the EU27’s worldwide exports of services.

“Main EU trade partners for services in 2020: USA and UK.
“In 2020, the EU’s leading trade partners for services were the United States and the United Kingdom. The United States and the United Kingdom were each the destination for a fifth (20%) of the services exported from the EU Member States, ahead of Switzerland (12%).”
- EU Commission (Eurostat) report, 31 Jan 2022

Who does Brexit Britain sell to in the World?

Below we show the top 20 countries buying services from the UK in 2020.

Brexit Facts4EU.Org Summary

Brexit Britain's Top 20 buyers of services
(In £'s billions.)

[ Data source: Office for National Statistics, Jan 2022 ]

Observations

The very substantial growth in Brexit Britain’s export of services – the major part of the UK economy – is so large it cannot be explained away by Rejoiners. These are real, official facts, released quietly by the Office for National Statistics at the end of January. Naturally these went unreported on BBC TV and Sky News.

What we are seeing is a large vote of confidence in the UK from countries around the World – and even from the EU27 countries – in the UK’s largest sector of its economy, which is generally estimated to be around 80% of the total.

It backs up all the rankings that we have been publishing in the last month that cover 2021 and expectations for 2022 – so we should be confident that the trend identified here, up to 2020, is continuing now and going forward.

This was NOT meant to happen. We were told by George Osborne there would be 500,000 jobs lost just for voting to leave, never mind what would come later. Well, we know that didn’t happen and we can now see our dynamic services-led economy actually prospered.

We can build on this. There is more to be done – and yet more to be achieved. We need to hold our politicians to account in meeting the promises to take back control and use the opportunities to create prosperity. Anything else is sub-optimal.

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[ Sources: Office for National Statistics | Eurostat (EU Commission) ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Monday, 7 February, 2022

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Reader Comments 25

1. Tom , Monday, February 07, 2022, 13:26:

Anyone outside the Tory party (i.e widely read) knows that Amsterdam surpassed London in January 2021 for the highest volume of trade in shares. Ove 9 billion euros traded in a day. It was the first time any capital had surpassed London as a share trading hub. This has not changed except for the amount increasing in Amsterdam's favour. I know many of you here probably have never heard this nor will you be told by your peers because they don't know it either. That's how echo chambers tend to work. Those who do know would rather it were not true & say nothing. I doubt that the "think tank" here has never mentioned this "awful fact" about the EU, if indeed they even know about it - news that everyone else knows. If you had bought & sold shares in the last year, then you'd know this too, as a lot of regulations changed. But this is not a an exercise about facts - it's to perpetuate the them/us story that right wing ideology thrives on.

2. Judy , Monday, February 07, 2022, 13:27:

Rejoiners won't like this... What a miserable life they live.

3. Linda , Monday, February 07, 2022, 13:39:

Tom can you point me to some justification of your 'right wing ideology' theory with some facts if you're so keen on facts?
Or are you just repeating the mantra of rejoiners without the tiring task of using your own brain?

4. Robert Mcdonald , Monday, February 07, 2022, 14:15:

Really Tom. Any comment that starts with an obviously bigoted and abusive statement about those you don't like /clearly hate, is not worthy of taking seriously.
I'm still pleased I voted to leave and comments like yours confirm which side of the argument I prefer to be on. The side that looks at the big picture, honestly.

5. Tom , Monday, February 07, 2022, 14:29:

3. The fact that I can use my brain does not necessarily imply that you or others also can. This has become self-evident. Which is why I never offered an explanation. I figured at this stage in the game - many of you have been stung enough to know better...That would be preferable but it's not a given. That said; take a look at America's right wing "patriots" who are in actuality cultist followers of a man who's entire self-promotion platform is based on division & hatred. All the MAGA air heads over there think nothing of planning & attempting a coup. The right wing everywhere are literally turning brother against brother, neighbour against neighbour, splitting families & communities just so 1 man/party can feel good about himself & cash in while doing so. It's the Right Wing Way. I don't think any right winger can even deny that.
The UK is not too disimiliar; the Left want to uplift all lives, not only certain postcodes. In contrast, the Right will stoop so low as tocopy & paste a wikipidea page as a "Levelling Up" report because they'd have to openly admit that they intend to only "Level Up" a handful. It's beyond a joke - it's scary.
This was the same in Adolf's Germany, Mussolini's Italy or any present-day right wing nation. It's always the same. Most other voters seems invested in everyone doing well - right wing ideology insists that only a few deserve to do well. There is rarely a right wing majority in any population. It would go against the social nature of our species - conservatives only win by playing swathes of society against each other - or in other instances by storming the capitol - or lying on a daily basis. Problem is, right wing voters can no longer, if ever, differentiate between lies & truth - as long as the "them" are hurting more. You may have come across "divide & rule" somewhere in GCSE History. If not, then I suggest you start there.

6. Robert Mcdonald , Monday, February 07, 2022, 15:18:

I know I shouldn't bother responding to Tom's cant, but its raining and the tele is boring.
This hypocrisy that the left wants to uplift all lives falls at the first test. They don't want to uplift the lives of the well off and affluent. They want to degrade them for those the left consider more supportive ... usually those on benefits. A number that would increase incrementally if the left got their way and socialism was forced upon us all. Socialism never works and never will, mainly because it ends up with a few deciding what's good for the many .. and the few always end up as dictators.
By the way, I read today which category of employee was most likely to be included in that list of being well off and affluent. The public sector staff can end up with pensions even larger than their high salaries gained in a comfortable unchallenged working environment. Thanks to capitalism for funding their cushy numbers through the taxes paid by the real productive workers out there. Please no rubbish about the public sector also paying taxes, they don't, they just hand a bit if their tax funded income back.. not out of generosity.
By the way I support much of the work done by the public sector, particularly such as bin collecting and street cleaning.

7. Tom , Monday, February 07, 2022, 15:38:

4. It's very real Robert - whether you take it serious or not. Fake news is a conservative construct & troubling only to those who can't tell when they're being lied to. I'm sensing that you did not know this inconvenient fact either. If not, you're welcome. I can't say I'm sorry to have burst that bubble. The fact itself, as I'm sure you may be asking yourself, "what does it mean?". Short answer - capital flight, longer answer - it's the Brexit you voted for. I'm pretty sure you were pleased to vote for your very own custom version of Brexit which you can use inter-changibly as the situation suits, but this is the only Brexit you've got , obtained by those you entrusted to get it for you. Who then resigned & walked away with a title - leaving you holding the bill. Others told you that you wouldn't get much & may have even offered to sell you a bridge. How uncanny, I just remembered that the PM had a "plan" tried to sell us a bridge lol- now scrapped due to it's unworkability. Life imitating Brexit.
On topic though, if London can lose out to Amsterdam within a year - give it 10 years & see where we'll be (probably back in the EU). In response to this capital flight, the government re-opened the trade of the banned trade of shares belonging to Nestle & Roche. We are filling those lucrative niches now - banned stocks, tax havens outlawed by the EU, low employee & consumer protections - all the good stuff appreciated by the Kremlin. Applause all the way to insignificance if you must, or be pleased in yourself for bankrupting younger generations but this is the issue I'm talking about - people voting as if this is their local football side or favourite Strictly contestant. And doing so proudly, despite the abundance of evidence around them.

8. Tom , Monday, February 07, 2022, 16:47:

6. It's not that they don't 'want' to - they don't 'need' to. Helping the majority 'needs' to happen! I can't believe this even needs to be said. It's no secret that the rich have already been uplifted. The affluent are already sorted, so by seeking to uplift everyone else, the Left are far more likely to succeed in "uplifting everyone" - moreso than the right ever will. The Right would never even endeavour to try. Infact, they work tirelessly, in between BYOB parties of course, to make sure that normal citizens make little to no progress throughout their lives. Is it any surprise that education funding has dropped since the Tories in 2010?
Because the Right typically function by transferring state capabilities to the few & limiting access only to the rich or connected, it'd be fair to say if you're not upper class, but a staunch Tory voter, then you're, to use a phrase that epitomises Brexit - shooting yourself (& others) in the foot. Words like 'selfish' dissipate in political discussion but when comparing Left to Right - one is collective, the other self-centred, objective as opposed to subjective, inclusive as opposed to exclusive - I don't even have to distinguish which word goes with which - we all know. It seems to me that the biggest concern conservative voters have is that someone, somewhere is being treated with equality that only they deserve.

9. Robert Mcdonald , Monday, February 07, 2022, 18:10:

Very typical lefty comments again Tom. lengthy, boring, and obtuse.

10. jon livesey , Monday, February 07, 2022, 19:12:

Tom is doing what all Remainers do. He has found some small issue, and he is talking as if it's the big issue. Amsterdam did take business from London in clearing euro denominated shares, but that is a very small part of what London does. London is a huge financial centre, not a Stock Exchange. These days the stock Exchange is a relatively tiny part of what London does. And competition has driven down the amount of money any Stock Exchange makes on share clearing to a small fraction of what it used to be. Share clearing is a business, but it's no longer a very important one.
The main story at the top of the page is what we should be concentrating on, because that is about the whole service picture, not just about one small part of it.
Fortunately, economic issues always have cross-checks. London - and the UK - is gaining business, not losing it. How can you tell? Because total employment is up, unemployment is down, tax revenue is up, Government borrowing is down. If the export numbers were all fake, these other numbers would be going in the reverse direction.
Oh, and another thing. Why would the EU itself be in a conspiracy of fake numbers to make the UK look good? What would the EU' motive be for doing that?

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