Trade in Services

  • techUK techUK
    Friday15Feb 2019
    Consultation responses

    techUK Submission to the House of Commons International Trade Committee Inquiry - ‘Trade in Services’

The technology sector in the UK is service dominated. As Frontier Economics’ report for techUK, The Digital Sectors After Brexit found, 96 per cent of the sector’s output and 81 per cent of its exports are spread across services activities. The most digital heavy exports, of telecommunication, computer and information services, were worth over £20 billion to the UK in 2017.

However, the scale of digital dependent exports is far greater, with financial, insurance and pension services and much other business exports dependent on international data flows and delivery over ICT systems. These sectors in turn account for a further £158 billion in exports in 2017. Ensuring an environment that enables the export of digital services will be a crucial spur to the growth of UK trade.

This submission will focus on answering what are the main digital and non-digital barriers faced by UK tech sector services exports before exploring how technology means that services are increasingly embedded in goods. It will finally address how the UK should seek to approach liberalisation in trade in services.

Read the full submission via the link below and if you would like to discuss further please get in touch with Giles Derrington or Thomas Goldsmith.

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