Finland Economic Statistics

Importing from UK

The United Kingdom of Great Britain and Northern Ireland is a sovereign country off the North Western coast of continental Europe. 

The UK is a major international trading power, with international trade accounting for 28% of the country’s GDP.

In 2019, over $468 billion was exported by the UK, primarily to the USA, Germany, France, Netherlands, and China.

The majority of British exports are from a few key categories, namely mechanical machinery (14%); cars (10%); electrical machinery (8%); medicinal and pharmaceutical products (8%); crude oil (6%); and aircraft (5%).

Importing from UK: What is trade finance?

In the UK, exporters typically make payments on open accounts, payments in advance, letters of credit, documentary drafts, or consignments. 

The UK’s 2016 decision to leave the European Union (EU) gave it the freedom to pursue its own trade deals with countries around the globe. 

At the time the UK left, the EU had about 40 trade deals covering more than 70 countries. Since leaving, the UK has signed trade agreements and agreements in principle with 69 countries, including one with the EU. 

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