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Value Added from Trade for Key Business and Financial Service Industries: Initial Estimates

Author

Listed:
  • Monique Ebell
  • Jack Pilkington
  • Jeremy Rowe
  • Sylaja Srinivasan

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.

Suggested Citation

  • Monique Ebell & Jack Pilkington & Jeremy Rowe & Sylaja Srinivasan, 2017. "Value Added from Trade for Key Business and Financial Service Industries: Initial Estimates," National Institute Economic Review, National Institute of Economic and Social Research, vol. 242(1), pages 14-23, November.
  • Handle: RePEc:sae:niesru:v:242:y:2017:i:1:p:r14-r23
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    More about this item

    Keywords

    value-added from exports; business services exports; financial services exports;

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • F10 - International Economics - - Trade - - - General

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