UK’s exports of services are up by 25% – “despite Brexit”

And the EU’s share plunges from one-half to one-third in under five years

Montage © Facts4EU.Org 2023

A two-part Facts4EU report on the success of the UK’s services sector since leaving the EU

This Easter Monday Brexit Facts4EU.Org analyses the latest positive figures from the Office for National Statistics in relation to the all-important services sector. We are publishing this together with CIBUK.Org of which we are an Affiliated Organisation.

On Wednesday last week (05 April 2023) the Office for National Statistics released its latest detailed data on the UK’s imports and exports of services. This matters, as the services sector represents 80% of the UK economy. The figures show an astonishing 25% surge in the UK’s exports of services since the British people voted to leave the EU.

In this two-part report we summarise our analysis of the official data and comment on the findings.

The UK’s strength in services

Part One – 25% growth in services exports, declining importance of EU market (This report)
Part Two – The UK’s most popular services internationally

Nearly 2/3rds of UK’s exports of services go outside the EU

This Easter Monday we are able to bring readers the breakdown of exports of services from the United Kingdom, comparing EU with non-EU countries.

When it comes to services, the European Union accounts for only just over one-third of the UK’s total sales. The rest of the world is not only a more important market, but it is growing much faster than the EU.

Brexit Facts4EU.Org Summary

EU and non-EU exports of services, ONS 05 Apr 2023, data for 2021

(Detailed figures for services always lag well behind those for the import and export of goods, so these are the latest numbers.)

  • Exports to EU27 countries : £117.5bn (35.8%)
  • Exports to rest of the world : £210.6bn (64.2%)
  • In 2018 the EU accounted for 49.5% of the UK’s services exports

[Source : Office for National Statistics, published 05 Apr 2023, current prices.]

© Brexit Facts4EU.Org 2023 - click to enlarge

The UK’s success in exporting services has increased since Brexit

It is a sad fact that Rejoiners and those in the media who are anti-Brexit have allowed a myth to propagate that the UK’s exports have slumped since Brexit. This is emphatically not the case. Facts4EU.Org has published the official data on the export of goods several times, proving this.

The UK’s Rejoiners and ‘Globalists’ have received over £3.5m in foreign funding

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Below we show how Brexit Britain’s exports of services have grown in real terms by almost 25% since the pre-Referendum year of 2015. Firstly we present the views of the Rt Hon Sir John Redwood MP.

Commenting exclusively on our report, the Rt Hon Sir John Redwood MP told us :-

"Once again Facts4EU tells us the truths about our trading the establishment media wishes to hide. The UK is a big exporter of services.

"Last year saw great growth in our service exports. All the time we were in the EEC/EU they kept barriers to service trade and did not negotiate free trade for services in their international trade Agreements to help us. Out of the EU our service exports to the rest of the world are booming. UK trade deals will include freedoms to help our service exporters.

"The UK now has a global policy to extend our reach to the fast growing parts of the world like Asia who want our services."

- The Rt Hon Sir John Redwood MP, former Secretary of State, 10 Apr 2023

Brexit Facts4EU.Org Summary

Exports of services in real terms (allowing for inflation), 2015-2022

(Chained volume measure)

  • 2015 : £275.4bn
  • 2022 : £347.7bn (+24.8%, in real terms)

[Source : Office for National Statistics, published 05 Apr 2023, CVM.]

© Brexit Facts4EU.Org 2023 - click to enlarge

The value of services exports (in real terms) is back above its pre-Covid levels

It is a simple fact that the United Kingdom is the second-largest exporter of services in the world, after the United States. It is also a fact that the UK is exporting a much higher value of services to the world than ever before.

And finally it is a fact that the EU represents a shrinking market in its importance for UK exporters, as the growth is coming from the rest of the world.

Observations

Our Easter Monday report shows that not only is the EU a relatively small market for the UK’s greatest strength – services – but in addition Brexit Britain’s exports of services have surged since the Referendum.

Once again we must ask the Rejoin campaigns to look hard at their rhetoric and at the official facts we present. The two are incompatible. Either the official facts are wrong, or they are. We politely suggest the latter is the case.

In Part Two we will look at which services the UK is most successful at exporting.

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[ Sources: UK Office for National Statistics, latest release plus time series ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Easter Monday, 10 Apr 2023

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