International imports of UK advertising and market research services grew 7% year-on-year to reach a new record level of £11 billion in 2019, according to the Advertising Association’s annual UK Advertising Exports Report 2021.
The report, published today, shows America remains the largest single country importer – importing £1.1 billion worth of UK advertising and market research services – consistent with previous years.
France (£785 million), Germany (£712 million), Switzerland (£643 million) and Ireland (£539 million) are the next largest importers of UK advertising, market research and opinion polling services.
Graham Stuart MP, minister for exports commented: “I congratulate the advertising sector on an exceptional rate of growth. It is very encouraging that UK advertising and market research services exports grew to an estimated £11 billion in 2019.”
Collectively however, EU nations only accounted for 40% of UK advertising, market research and opinion polling services imports in 2019.
This was significantly down on the previous year’s figure of 53%, which according to Advertising Association CEO Stephen Woodford, demonstrates that, “perhaps that UK advertising is reflecting the reorientation to new markets elsewhere in the world.”
He said: “We hope that the Government’s and DIT’s emphasis on trade agreements will further grow exports in new and emerging markets in the months and years ahead.”
Advertising industry think tank, Credos, carried out the analysis of data from the Office for National Statistics’ Pink Book.
The data shows advertising and market research services in third place among comparable export industries in 2019, behind insurance and pension services (£20 billion) and computer services (£12 billion).
According to the Advertising Association’s Woodford, the full impact of the past year on exports will not be known fully until next year.
