CARIFORUM and UK EPA Study

Table 40: UK International Exports via Mode 3 (2019)

UK International Exports Via Commercial Establishment (2019) (£'s Millions)

Service account

2019 estimates

Maintenance and repair services

10,934 33,925 20,149 11,177 26,903 130,959 11,599 41,726 298,920 10,311 30,967 627,570

Transport

Travel

Construction

Insurance and pension services

Financial services

Charges for the use of intellectual property

Telecommunications, computer, and information services

Other business services

Personal, cultural, and recreational services

Distribution Total services

Source: ONS Data

These exports, via the UK’s foreign affiliates which are commercially established overseas, were mainly concentrated in the areas of Other Business services (47.6%) and Financial services (21%), which together accounted for close to 70% of total exports, suggesting that UK investors have a stronger preference for undertaking investment activities in these two key areas. This perhaps, may further serve as a signal to investment seeking destinations internationally, which might wish to attract more inward FDI from the UK. These sectors were followed in third place by the UK’s exports of Telecommunications, Computer and Information services, which represented 6.7% of the total exports via Mode 3, and thereafter Transport services (5.4%) and Distribution services (4.9%), suggesting a cardinal ranking of the UK’s underlying outbound investment preferences, and thus the areas in which investment seeking countries may also target UK investors to encourage more inward FDI from the UK. The assessment of the UK’s attractiveness as an investment source and FDI destination, therefore, revealed the UK’s strong outward investment orientation, making it a key source market from which international jurisdictions may seek to attract foreign direct investment, while at the same time establishing the fact that the UK is extremely open to direct inward investment, and particularly compared to its main competitors in the EU, thus also making it a prime investment destination among actively competing nations.

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