The financial services sector includes a wide range of firms, including retail banks, building societies, investment banks and hedge funds, plus professional financial services such as accountancy, consultancy and insurance.
Exports of UK financial services were worth £60 billion in 2018 and imports were worth £15 billion, so there was a surplus in financial services trade of £44 billion. 43% of financial services exports went to the EU and 34% of financial services imports came from the EU.
The sector contributed £29 billion in tax in the UK in 2017/18.
London generates around half of the sectors output.
Exports of UK financial services were worth £60 billion in 2018 and imports were worth £15 billion, so there was a surplus in financial services trade of £44 billion. 43% of financial services exports went to the EU and 34% of financial services imports came from the EU.
The sector contributed £29 billion in tax in the UK in 2017/18.
London generates around half of the sectors output.
In financial services, the UK bridges the gap between old and new: it is both a leading centre for the burgeoning global fintech industry and a stalwart of more traditional services such as asset management, insurance and wholesale lending.
