2024/01/19 13:02:33

UK foreign trade

Content

2023:127 British companies admit to violating kingdom sanctions against Russia
2022
2021
2020: Exports $770 billion, trade surplus $5.5 billion
2019: $5 billion in computer device exports
1855: Reconstruction of sea routes
1700: Ban on imports of cotton fabrics from India, Iran and China
See also

Main article: UK economy

2023:127 British companies admit to violating kingdom sanctions against Russia

As of May 17, 2023, 127 companies voluntarily reported sanctions violations to the British government, according to a freedom of information request sent to the UK Treasury and obtained by the Financial Times. Voluntary recognition of violations and cooperation with the investigation allows companies to reduce the amount of penalties.

2022

The United States is the largest export destination

According to data available for August 2023.

G7 countries are the main export destination

Reduction in imports from Russia by 97% in June

In June 2022, Britain imported goods and services worth £33m from Russia, which is about 97% less than the average a year earlier - at least on record since January 1997 - ONS.

In June, Britain also for the first time in history did not import fuel from Russia, as the government achieved its goal - to gradually abandon all purchases of natural gas and oil from the Russian Federation after the outbreak of the conflict in Ukraine.

2021

Export structure: equipment, precious metals, vehicles

The top British exports in 2021 were as follows:

1. Machines, including computers, machines and other industrial equipment: 67.6 billion USD (14.7% of total exports). Moreover, a large share of this volume is "Nuclear reactors, boilers, equipment and mechanical devices; their parts "

2. Precious stones, precious metals: 65.7 billion USD (14.3%).

3. Vehicles: 40.1 billion USD (8.7%).

4. Mineral fuel, including oil: 33.7 billion USD (7.3%).

5. Electrical machinery, equipment: $26.4 billion (5.7%)

6. Pharmaceuticals: 23.3 billion USD (5.1%).

7. Optical, technical, medical equipment: 20.4 billion USD (4.4%).

8. Aircraft, spacecraft: 13.9 billion USD (3%)

9. Plastic, plastic products: 12.3 billion USD (2.7%).

10. Organic chemicals: 11 billion USD (2.4%)

Exports to European countries account for more than 45%. The share of Hong Kong is 2.3%, the UAE - 1.8%.

Thirteenth largest importer to Russia

Britain is among the largest arms exporters in 5 years with a share of 2.9%

The largest arms exporters by share in the world market from 2017 to 2021.

£5.2bn in fuel imports from Russia

2020: Exports $770 billion, trade surplus $5.5 billion

British exports in 2020 amounted to 770.5 billion USD, exports were more than imports by 5.5 billion USD.

However, the export of goods amounted to only 395.6 billion USD in 2020, in 2021, the export of goods increased to 459.4 billion USD. The rest is the export of services: banking, accounting, judicial, etc.