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Birmingham Post
Birmingham Post
Business
Hannah Baker

South West financial services sector sells £5bn of business overseas in one year

South West CityUK United States United Kingdom European Union

The South West exported nearly £5bn of financial and professional services to Europe and the wider world in 2020 - up by a quarter over the last decade - a new report has revealed. The study from TheCityUK said the region accounted for 3.8% of the UK's total financial services exports.

The most financial services exports were from the Gloucestershire, Wiltshire and Bath-Bristol region (£2.5bn), according to the report, followed by Dorset and Somerset (£1.0bn), Devon (£187m) and Cornwall and the Isles of Scilly (£58m).

Of the South West's financial services exports, 26% went to the EU in 2020, while the remaining 74% went to the rest of the world.

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