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- Title
Value Added from Trade for Key Business and Financial Service Industries: Initial Estimates.
- Authors
Ebell, Monique; Pilkington, Jack; Rowe, Jeremy; Srinivasan, Sylaja
- Abstract
The value of exports to the domestic UK economy does not equal gross export flows, as some of the value-added within UK exports may have been generated abroad. For key business and financial service industries we present new and initial estimates giving a lower bound for the value-added component of exports generated directly by the domestic exporting sector, called the direct domestic value-added component of exports. Our initial estimates suggest that at least 38 per cent of UK monetary financial institutions (MFIs) exports in 2016 was direct domestic value-added amounting to £14.6bn, of which £5.0bn came from exports to the EU. These initial estimates suggest that approximately 80 per cent of accountancy and legal services exports in 2014 were direct domestic value-added amounting to £1.7bn and £5.2bn respectively, of which £500mn and £1.7bn came from exports to the EU respectively.
- Subjects
UNITED Kingdom; FINANCIAL institutions; EXPORTS; INTERNATIONAL trade; ECONOMIC development; ECONOMICS
- Publication
National Institute Economic Review, 2017, Vol 242, pR14
- ISSN
0027-9501
- Publication type
Article
- DOI
10.1177/002795011724200111