MercoPress. South Atlantic News Agency

UK/Falklands 2021 trade in goods and services was down 9,7% compared to the previous year

Falkland Islands was the UK’s 139th largest trading partner in the four quarters to the end of Q2 2021 accounting for less than 0.1% of total UK trade.

Total trade in goods and services (exports plus imports) between the UK and Falkland Islands was £112 million in the four quarters to the end of Q2 2021, a decrease of 9.7% or £12 million from the four quarters to the end of Q2 2020. Figures are from the UK ONS, Office for National Statistics.

Of this £112 million: Total UK exports to Falkland Islands amounted to £102 million in the four quarters to the end of Q2 2021 (a decrease of 11.3% or £13 million compared to the four quarters to the end of Q2 2020); Total UK imports from Falkland Islands amounted to £10 million in the four quarters to the end of Q2 2021 (an increase of 11.1% or £1 million compared to the four quarters to the end of Q2 2020).

Falkland Islands was the UK’s 139th largest trading partner in the four quarters to the end of Q2 2021 accounting for less than 0.1% of total UK trade.

In 2019, the outward stock of foreign direct investment (FDI) from the UK in Falkland Islands was £2 million. In 2019, the inward stock of foreign direct investment (FDI) in the UK from Falkland Islands was less than £1 million.

Trade has been affected by the COVID-19 pandemic and the associated lockdown measures globally. There was also a change in data collection for Great Britain (England, Scotland and Wales) exports to the EU between 2020 and 2021.

Of all UK exports to Falkland Islands in the four quarters to the end of Q2 2021, £49 million (48.0%) were goods and £53 million (52.0%) were services. In the four quarters to the end of Q2 2021, UK exports of goods to Falkland Islands decreased by 16.9% or £10 million compared to the four quarters to the end of Q2 2020 while UK exports of services to Falkland Islands decreased by 5.4% or £3 million compared to the four quarters to the end of Q2 2020. In the four quarters to the end of Q2 2021, total UK imports from Falkland Islands were £10 million (an increase of 11.1% or £1 million compared to the four quarters to the end of Q2 2020).

Of all UK imports from Falkland Islands in the four quarters to the end of Q2 2021, £5 million (50.0%) were goods and £5 million (50.0%) were services. In the same period, UK imports of goods from Falkland Islands increased by 25.0% or £1 million compared to the four quarters to the end of Q2 2020 while UK imports of services from Falkland Islands changed by less than £1 million compared to the four quarters to the end of Q2 2020.

This means the UK reported a total trade surplus of £92 million with Falkland Islands, compared to a trade surplus of £106 million in the four quarters to the end of Q2 2020. In the four quarters to the end of Q2 2021, the UK had a trade in goods surplus of £44 million with Falkland Islands, compared to a trade in goods surplus of £55 million in the four quarters to the end of Q2 2020. Meanwhile, in the four quarters to the end of Q2 2021 the UK reported a trade in services surplus of £48 million with Falkland Islands, compared to a trade in services surplus of £51 million in the four quarters to the end of Q2 2020.