Lexis®Library update: The report also finds that the UK is the largest legal services market in Europe and is second only to the US globally. It accounts for a third of Western European legal services fee revenue and around 5% of global legal services fee revenue (£520.5bn in 2021).
TheCityUK says the UK remains the leading net exporter of financial services across the world (£63.7bn), followed by the US (£62.5bn), Singapore (£19.4bn), Switzerland (£18.6bn) and Luxembourg (£18bn).
The UK’s largest trading partner in financial services continues to be the US, with 34.1% of total sector exports, followed by the EU at 29%, with Luxembourg (6.3%), Ireland (4.4%) and France (4.2%) being the top three destinations in the bloc.
The report also notes that the UK maintains a globally leading share of a number of financial markets, including 15% of the global total of cross-border bank lending in the second quarter of 2022.
The report also includes statistics on the UK’s global position on fintech, currency trading, insurance, private equity and equity trading.
Source: UK confirmed as the world’s leading net exporter of financial services
Key facts January 2023 about the UK as an international financial centre 2022
