The UK, with a trade surplus of £92.2bn, is the world's largest net exporter of financial services, outperforming Singapore, Switzerland, and Luxembourg combined.
UK financial services exports reached a record £120.3bn in 2023, driven by a £16.8bn increase, with the US being the largest market, accounting for 33%.
The City of London Corporation calls on the Government to prioritize services trade within its financial strategy, aiming to maintain the UK's open and global market position.
Despite Brexit, UK financial services exports to the EU increased by £7.4bn (25%) in 2023, reinforcing the UK's role as a key supplier to the bloc.
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