How the government and business doubles down on services within industrial and trade strategies
The UK’s strength as a services powerhouse is indisputable, with the service industries accounting for over 80% of total economic output (GVA) and 8 in 10 jobs.
However, between the first quarters of 2023 and 2024, the UK had the fifth highest services trade growth in the G7 – trailing Italy, the US, Canada and Japan. So how can we grow our services exports and remain competitive on the global stage?
To harness the UK’s services superpower, it is more important than ever that the government works closely with business as it develops new industrial and trade strategies. Critical first steps include acknowledging the complexity of these industries, understanding how we trade in services, and listening to business on the actions that are needed to unleash potential.
‘Serving Up Success’ is a collective vision, brought together with members of all shapes and sizes – from finance to recruitment to aviation to pharmaceutical to professional services
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