It is reported by CityUK that the UK financial services sector achieved a record trade surplus of £95bn in 2024. This was a 15% increase from 2023. The good news is that this positions the UK as the world’s largest net exporter of financial services, surpassing the US and other leading nations. If one includes related professional services, the surplus rises to £119.1bn. The chief economist at CityUK, said: “UK-based financial and related professional services exports remain resilient.” London remains a dominant hub, accounting for significant global financial activity, including 38% of foreign-exchange turnover.

BFS Comment:

Good to hear that we are still able to export something successfully. It seems to belie fears over the last few years that London was slipping down in the ranking of World Financial Centres! The important question now is whether ‘the City’, supported by the Government, has been able to maintain this ascendancy? What remains to be seen is what effect the Trump’ regime has had on the Financial Services market? At BFS we have the contacts to arrange commercial finance both within the UK as well as for exports. Call us on 01327 349779 or e-mail enquiries@bufinserv.co.uk to learn more.