4.2.2
International Trade
Net trade
Net trade
Net trade is the balance of exports and imports. This can be influenced by several factors. The balance of UK exports and imports have changed in the past few years.


UK exports
UK exports
- In 2016, UK exports were valued at around £300bn.
- The main exports in the UK were financial services, cars, wholesale medicines, gas turbines, petroleum and gold.
- The leading recipients of UK exports are the USA, Germany, the Netherlands and France.


Changes in UK exports
Changes in UK exports
- Since 2000 the UK has decreased its share of exports to the EU from 55% to 45%, taking advantage of the rapid economic growth of countries such as Brazil, China, Russia and India.
- As London grew as a financial hub from 2000-2008, there was an increase in financial services exported to the rest of the world. This slowed after the global financial crisis of 2008, but is still a major contributor to UK exports.


UK imports
UK imports
- In 2016, UK imports were valued at around £500bn.
- The main imports were cars, vehicle parts, aircraft, gold, petroleum and wholesale medicines.
- The leading suppliers of imports to the UK are Germany, China, the USA and the Netherlands.


Changes in UK imports
Changes in UK imports
- Since 2000, over 50% of UK imports have come from the EU.
- The rapid growth of China as an exporter has meant that lots of UK imports now come from China.
- The decline of the UK manufacturing industry has meant that we import more manufactured goods, including computers.
- Between 1986 and 1998 the UK average a small trade deficit of around £5bn. This then grew until 2002 where it reached £30bn and has roughly stable ever since.
1Exploring Business
1.1Features of Business Organisations
1.2Organisation of Businesses
1.3Business Environment
1.3.1External Influences
1.3.2Political & Legal Change
1.3.3Economic Environment
1.3.4Social & Technological Environment
1.3.5Lifestyle & Technological Environment
1.3.6Corporate Social Responsibility
1.3.7The Competitive Environment
1.3.8Innovation
1.3.9Risk & Uncertainty
1.3.10Porter's Five Forces
1.3.11SWOT Analysis
2Marketing Campaigns
2.1Marketing
3Business Finance
3.1Sources of Finance
3.2Financial Planning
3.3Financial Statements
4International Business
4.1Globalisation
4.2International Business
4.3International Economic Environment
4.4Factors Affecting International Business
5Principles of Management
5.1Management & Leadership
5.2Theories of Motivation
6Business Decision Making
6.1Business Principles & Practices
6.2Quality Management
6.3Human Resources
6.4Documents & Business Decisions
Jump to other topics
1Exploring Business
1.1Features of Business Organisations
1.2Organisation of Businesses
1.3Business Environment
1.3.1External Influences
1.3.2Political & Legal Change
1.3.3Economic Environment
1.3.4Social & Technological Environment
1.3.5Lifestyle & Technological Environment
1.3.6Corporate Social Responsibility
1.3.7The Competitive Environment
1.3.8Innovation
1.3.9Risk & Uncertainty
1.3.10Porter's Five Forces
1.3.11SWOT Analysis
2Marketing Campaigns
2.1Marketing
3Business Finance
3.1Sources of Finance
3.2Financial Planning
3.3Financial Statements
4International Business
4.1Globalisation
4.2International Business
4.3International Economic Environment
4.4Factors Affecting International Business
5Principles of Management
5.1Management & Leadership
5.2Theories of Motivation
6Business Decision Making
6.1Business Principles & Practices
6.2Quality Management
6.3Human Resources
6.4Documents & Business Decisions
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