UK enjoys services trade surplus
Canary Wharf on a clear day
The UK has a vast financial services industry
The UK was the world's second largest exporter of services in 2003, according to the Office for National Statistics.
Its latest annual figures for the services sectors, show that exports grew by 4.5% to £91bn in 2003, while imports rose 5.4% to £76bn.
This created a surplus of £15.6bn ($29.4bn), unchanged from 2002.
The US is both the world's largest exporter and importer of services, followed by the UK. Other EU countries don't compare well, although Germany is the next highest EU country exporting services.
Britain's services exports have now more than doubled since 1993 when sales totalled £41bn.
European deficit
In 2003 the UK recorded a services surplus with every continent except Europe, where there was a deficit of £1.8bn, up from £1.2bn in 2002.
Its surplus with the Americas was £10.2bn.
This included a £8.6bn surplus with the United States, which alone represented 55% of the UK's total surplus.
Exports of services to the US totalled just under £22bn in 2003, while imports were more than £13bn.
The UK recorded surpluses in 2003 for all service categories except transportation, travel and government services.
The biggest rise in any category of exports came from computer and information services, which gained 35% from £3.5bn in 2002 to £4.7bn in 2003.
The biggest rise in imports came from the government services sector.
Britain's manufacturing and engineering sections have also been steadily rising after a slight decline. Last quarter, Britain's manufacturing output leapt as new engineering projects have taken hold. Britain's Rover is merging with China's biggest car company in a joint anglochinese venture to produce new cars. The largest European defence order has also just been placed with British firms and orders are also up for Steel, Glass, Minerals, Construction, Defence, Machinery and many other sections.
British growth in 2005 is expected to be 3.4 to 3.8 percent. One of the highest in Europe.
France is now way down the list -
Leading exporters and importers in world trade in commercial services, 2003
Rank Exporters Value
1 United States 287,7
2 United Kingdom 143,4
3 Germany 115,6
4 France 98,9
5 Spain 76,3
Rank Importers Value
1 United States 228,5
2 Germany 170,8
3 United Kingdom 118,3
4 Japan 110,3
5 France 83,7
Rank Importers Value
1 United States 1303,1
2 Germany 601,7
3 China 413,1
4 United Kingdom 390,8
5 France 390,5
France's GDP and GDP per capita is now 6% below the UK and the gap is growing. IN OUR FAVOUR.
15 French Execs have already reported that Britain is surging ahead. We have more companies in the top Euro 3,000 and 6,000 and more are emerging on the scene due to the environment we foster in our business.
Not looking good for France!!
Now we just have to overtake Germany and we'll be the biggest in all of Europe.
Canary Wharf on a clear day
The UK has a vast financial services industry
The UK was the world's second largest exporter of services in 2003, according to the Office for National Statistics.
Its latest annual figures for the services sectors, show that exports grew by 4.5% to £91bn in 2003, while imports rose 5.4% to £76bn.
This created a surplus of £15.6bn ($29.4bn), unchanged from 2002.
The US is both the world's largest exporter and importer of services, followed by the UK. Other EU countries don't compare well, although Germany is the next highest EU country exporting services.
Britain's services exports have now more than doubled since 1993 when sales totalled £41bn.
European deficit
In 2003 the UK recorded a services surplus with every continent except Europe, where there was a deficit of £1.8bn, up from £1.2bn in 2002.
Its surplus with the Americas was £10.2bn.
This included a £8.6bn surplus with the United States, which alone represented 55% of the UK's total surplus.
Exports of services to the US totalled just under £22bn in 2003, while imports were more than £13bn.
The UK recorded surpluses in 2003 for all service categories except transportation, travel and government services.
The biggest rise in any category of exports came from computer and information services, which gained 35% from £3.5bn in 2002 to £4.7bn in 2003.
The biggest rise in imports came from the government services sector.
Britain's manufacturing and engineering sections have also been steadily rising after a slight decline. Last quarter, Britain's manufacturing output leapt as new engineering projects have taken hold. Britain's Rover is merging with China's biggest car company in a joint anglochinese venture to produce new cars. The largest European defence order has also just been placed with British firms and orders are also up for Steel, Glass, Minerals, Construction, Defence, Machinery and many other sections.
British growth in 2005 is expected to be 3.4 to 3.8 percent. One of the highest in Europe.
France is now way down the list -
Leading exporters and importers in world trade in commercial services, 2003
Rank Exporters Value
1 United States 287,7
2 United Kingdom 143,4
3 Germany 115,6
4 France 98,9
5 Spain 76,3
Rank Importers Value
1 United States 228,5
2 Germany 170,8
3 United Kingdom 118,3
4 Japan 110,3
5 France 83,7
Rank Importers Value
1 United States 1303,1
2 Germany 601,7
3 China 413,1
4 United Kingdom 390,8
5 France 390,5
France's GDP and GDP per capita is now 6% below the UK and the gap is growing. IN OUR FAVOUR.
15 French Execs have already reported that Britain is surging ahead. We have more companies in the top Euro 3,000 and 6,000 and more are emerging on the scene due to the environment we foster in our business.
Not looking good for France!!
Now we just have to overtake Germany and we'll be the biggest in all of Europe.