The Treasurer’s Guide to Trade Finance

United Kingdom

Principal exports

Manufactured goods, defence and aerospace
equipment, fuels, chemicals, food, beverages
and tobacco.

Import/Export documentation

Within the EU: no documentation
requirements, but a commercial invoice is
typically included.

Outside the EU: commercial invoice, customs
declaration, bill of lading, packing list and,
sometimes, a certificate of origin.

Licences

Imports

ƒ Military equipment, nuclear materials and
various steel products from outside the EU.

ƒ Import licences with quotas: textile and
clothing imports from North Korea; textile
imports from Belarus, China and Uzbekistan;
and various steel imports from Kazakhstan,
Russia and Ukraine.

ƒ Kimberley Process certificate: rough
diamonds.

Exports

ƒ Goods/items that are subject to international
controls.

ƒ Kimberley Process certificate: rough
diamonds.

Tariffs/Taxes

Imports

ƒ Tariffs on imports from outside the EU are

set according to the EU’s common customs

code, with higher rates for agricultural

imports.

Exports

ƒ None.

Financing requirements for imports/

exports

ƒ None.

Prohibited items

ƒ Imports that are prohibited in accordance

with EU regulations and UN Security Council

resolutions, such as items deemed a threat

to fauna and flora and national security.

ƒ Exports that are prohibited in accordance

with EU regulations and UN Security Council

resolutions.

UK imports exports

Trade information

Key trading partners

Imports by origin

EU 51.3%

China 9.0%

USA 8.1%

Norway 6.0%

Japan 2.1%

Other 23.5%

Source: WTO, September 2012

Exports by destination

EU 53.4%

USA 13.3%

China 3.0%

India 1.8%

Switzerland 1.8%

Other 26.7%