Doing business in the UK
The UK is a top business destination due to its favorable environment. Its strategic location boosts international trade, especially with Europe and North America. With its strong financial sector, advanced infrastructure, and supportive government policies, the UK offers stability and growth opportunities.
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/ The British Market in a few words
With a GDP of $3.08 trillion, the United Kingdom is the sixth-largest economy in the world in 2023 and the second-largest economy in Europe, behind Germany ($4,309 billion) and ahead of France ($2,782 billion). The UK’s GDP per capita stands at $45,295, ranking 23rd globally, surpassing France ($42,409) by one rank.
In terms of trade, the UK is the second largest exporter of services after the US and ahead of Germany, with an export value of £466.560 billion in 2023. The UK’s trade balance was in deficit by £36.5 billion in 2023, reaching a deficit of £53.0 billion according to the National Statistics Office, due to significant imports of goods made by the country. Regarding imports, the UK’s top 5 trading partners are the US, Germany, the Netherlands, China, and France, representing 12.4%, 10.8%, 7.1%, 6.9%, and 6.2% of UK imports, respectively. Imports amounted to £895.6 billion, with the top 5 categories of imported products being automobiles, health products, clothing, telecom and audio equipment, and machinery and generators, representing 6.3%, 5.2%, 4.8%, 4.4%, and 3.3% respectively, for a total value of goods amounting to £581.3 billion in 2023.
In 2024, the key industries to look up are AI, Financial services, Renewable energy, Agri-food and E-commerce.
67 M
Population
GBP
Currency
3.08 tn
GDP (Dollar)
0.1%
Economic Growth Rate (2023)
/ ALTIOS in the UK
Established in the United Kingdom since 2015, with an office in London, our team boasts an extensive professional network to support our clients in expanding their businesses both in the UK and in the 21 other countries where we operate. Possessing comprehensive knowledge of the local market, we offer personalized services tailored to the specific needs of our clients.
Since November 2023, Frenger Consulting Services has become part of the ALTIOS Group. Together, they provide robust FDI expertise, with over 55 years of combined experience in FDI promotion for EDOs and IPAs, alongside corporate networks and tangible results for Economic Development Organizations seeking new investors on a global scale.
/ Set Up a Business in the UK
/ Ready to grow in the UK?
Our team of friendly experts loves nothing more than helping businesses like yours get off to a flying start in the United Kingdom.
