|Author (Corporate)||United Kingdom: House of Commons: Library|
|Series Title||Briefing Paper|
|Series Details||No.6193 (25.04.18)|
|Content Type||Journal | Series | Blog|
In 2017, the financial services sector contributed £119bn to the UK economy, 6.5% of total economic output. The sector was largest in London, where 50% of the sector’s output was generated.
There were 1.1m financial services jobs in the UK, 3.2% of all jobs.
Exports of UK financial services were worth £61bn in 2016 and imports were worth £11bn, so there was a surplus in financial services trade of £51bn.
44% of financial services exports went to the EU and 39% of financial services imports came from the EU.
In the context of Brexit, there was seen to be significant implications for the financial services sector.
|Subject Categories||Business and Industry|
|Countries / Regions||United Kingdom|