Value Added from Trade for Key Business and Financial Service Industries: Initial Estimates
Jeremy Rowe and
National Institute Economic Review, 2017, vol. 242, issue 1, R14-R23
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 Â£14.6bn, of which Â£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 Â£1.7bn and Â£5.2bn respectively, of which Â£500mn and Â£1.7bn came from exports to the EU respectively.
Keywords: value-added from exports; business services exports; financial services exports (search for similar items in EconPapers)
JEL-codes: C81 F10 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:niesru:v:242:y:2017:i:1:p:r14-r23
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