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Record year for Export services

The latest ONS statistics show UK services exports reached record highs of almost £400 billion in 2022.


The 2022 total of £397 billion means an increase (in current prices) of 20% compared to 2021, and up to 23% on exports in 2018. The services sector contributes around 80% of the UK’s GDP and currently the UK is the second biggest services exporter in the world – only behind the US. Image via Gov.uk

Kemi Badenoch, the Business and Trade Secretary, said:


“Services are the lifeblood of our economy, employing over 8 in 10 of our workforce. To see services trade reaching these heights is a firm reminder of the resilience of our strong services economy”


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