EU services imports from the UK

Figure 9 below tells a different story about the evolution of EU imports of services from the UK. Imports of various business services have remained rather stable through crises (coronavirus, Russia’s war in Ukraine, inflation), Brexit and the implementation of the EU-UK TCA, with minor changes. In 2023, after an almost 2-percentage point decrease in 2022, financial services (which are outside the scope of the TCA) have regained their 2021 level (the first year of implementation of the TCA). The composition of the list of top eight EU service sectors imported from the UK has changed over the years, affecting the lowest-ranking entries. While manufacturing was seventh in the list of top eight EU services imported from the UK in 2021, it fell off the list, to be replaced, in 2022, by ‘personal, cultural and recreational’ services. This remains the case, as shown in Figure 9. In 2018, right after the UK’s withdrawal from the EU, construction was in eighth place among EU imports of services from the UK.