Economic Report 2017
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In 201ϲ, as a memďer oĨ the U, aƉƉrodžimately ά7ϯ ďillion ǁorth oĨ oil and gas related goods and serǀices ǁere traded ďetǁeen the UK and the rest oĨ the ǁorld ;άϲ1 ďillion oĨ goods and ά12 ďillion oĨ serǀicesͿ͘ This eƋuates to ap p r ox im at e ly 5 p e r ce nt of t h e UK’ s t ot al t r ade foot p r int of £ 1.5 t r illion 16 .
The ά7ϯ ďillion oĨ traded goods and serǀices can ďe ďroŬen doǁn Ĩurther, as shoǁn in &igure 1ϲ͗
• £ 5 2 b illion of fue l t r ade
Ͳ άϯ1 ďillion oĨ imƉorts, ά7 ďillion oĨ ǁhich came Ĩrom the U Ͳ ά21 ďillion oĨ edžƉorts, ά1ϱ ďillion oĨ ǁhich ǁere edžƉorted to the U
ͻ άϵ ďillion oĨ nonͲĨuel trade ;suƉƉly chain goodsͿ
Ͳ άϯ ďillion oĨ imƉorts, ũust under halĨ oĨ ǁhich came Ĩrom the U Ͳ άϲ ďillion oĨ edžƉorts, ũust under halĨ oĨ ǁhich ǁere edžƉorted to the U
• £ 12 b illion of se r v ice s
Ͳ άϯ ďillion oĨ imƉorts, ũust under halĨ oĨ ǁhich came Ĩrom the U Ͳ άϵ ďillion oĨ edžƉorts, around halĨ oĨ ǁhich go to the U
This trade, ďoth imƉorts and edžƉorts, came at a cost oĨ around άϲ00 million in direct tariĨĨ Ɖayments, around 40 p e r ce nt of w h ich w as incur r e d b y t h e UK as an im p or t e r .
Figure 16: UK Oil and Gas Industry’s Trade Breakdown
3 5
N on- E U E U
3 0
10 Trade ( £ B illion - 2 016 Money ) 15 2 0 2 5
5
0
I mports
E x ports
I mports
E x ports
I mports
E x ports
F uel
N on- F uel Goods
Serv ices
Source: E Y
16 Oĸce Ĩor Eational ^tatistics 201ϱ data are aǀailaďle to doǁnload at hƩƉ͗ͬͬǀisual͘ons͘goǀ͘uŬͬuŬͲtradeͲƉartners
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