UK advertising exports nearly £12bn in 2020 despite pandemic

International trade in UK advertising and market research services was worth £11.7bn in 2020, latest figures have shown.

This is the same as pre-pandemic levels in 2019 and provided a £5bn trade surplus, despite global challenges related to the Covid pandemic, closed borders and lockdowns.

The Advertising Association’s UK Advertising Exports Report 2022, also found the US was still the largest receiver of UK advertising exports as it obtained £1.2bn worth of advertising and market research services in 2020.

The export of these services in the UK were only behind insurance and pension services (£20.7bn) and computer services (£12.9bn) in terms of monetary value.

According to OECD data, the UK’s advertising services exports were $13.6bn for 2021, only superseded by the US at $22bn.

Stephen Woodford, CEO of the Advertising Association, said: “As the global economy recovers in 2021 and 2022, there are headwinds to overcome, from the effects of the pandemic on supply chains to high levels of inflation.”

“This year’s UK Advertising Exports Report sets out a clarion call for our industry and Government to redouble the work together to achieve higher levels of exports, with all the benefits for jobs, growth and international cooperation these bring,” he added.

The report is based on analysis by advertising think tank Credos and data from the Office for National Statistics.