TheCityUK shows strength of UK financial services sector

TheCityUK’s annual report on the UK’s position as an international financial centre says that exports relative to imports of financial and related professional services shows how competitive UK industry is. It is the second largest exporter of financial services (£94.9bn) after the US.  The US accounts for 33.5% of sector exports and the EU for 28%.

Other key facts include:

  • the UK’s banking sector assets rank as 6th globally and 3rd in Europe;
  • the UK is the world’s largest centre for cross-border banking;
  • the UK is the world’s second largest destination for FinTech investment after the US, with the FinTech sector in the UK comprising over 1,600 firms as of 2022;
  • the UK’s insurance sector is the largest in Europe and third largest globally;
  • the UK private equity market is the most advanced in the world outside the US;
  • the LSE is within the top 5 exchanges globally in terms of listing and trading of foreign company equities; and
  • in 2022 the UK was the world’s 6th largest issuer of green bonds.

Emma Radmore