Making the most out of digital trade in the United Kingdom

Javier Lopez Gonzalez, Silvia Sorescu and Chiara Del Giovane

No 285, OECD Trade Policy Papers from OECD Publishing

Abstract: The digital transformation is having a profound impact on the international trade of the United Kingdom (UK). Digital trade exports have grown three times faster than other exports and now represent more than half of total exports, twice the OECD and EU averages. This strong performance is, in part, driven by a favourable domestic regulatory environment and an ambitious digital trade agenda in the United Kingdom’s trade and digital economy agreements. Econometric analysis shows that digital trade chapters in trade agreements can double the impact of the agreements, with issues around data protection, consumer protection, source code and cybersecurity potentially delivering the largest gains. To remain at the forefront of digital trade the United Kingdom should continue domestic reforms, including digitisation of trade documents and processes. To ensure that exporters maintain access to other markets, the United Kingdom should continue to engage in discussions on digital trade provisions in trade agreements and support ongoing multilateral and plurilateral discussions, including in the context of the WTO Work Programme on E-commerce and the Agreement on E-commerce.

Keywords: Data flows; Digital connectivity; E-commerce; Services trade; Trade agreements (search for similar items in EconPapers)
JEL-codes: C54 F13 F14 F15 F68 O3 (search for similar items in EconPapers)
Date: 2024-09-05
New Economics Papers: this item is included in nep-int and nep-pay
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