Post Brexit US growth for the City

The US has overtaken the EU as the primary export market UK financial services. Approximately 34% of exports by UK banks and finance companies went to US in 2020, according to research by the  TheCityUK, compared to 30% to the EU.
 
This the first time that financial exports to the US have beaten those to the EU since data has been collected. It means that the UK’s financial services industry is not as dependent upon the EU as many feared when the country voted for Brexit and so to leave the bloc. TheCityUK says that UK financial services firms are optimistic about further growth in 2022.

To read more on this story see the December issue of The NED.

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