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Business opportunities in the United Kingdom

Sweden and the United Kingdom have long traditions from trading and the UK market is a strong reference market for many other countries. Multiple factors such as geographical and cultural proximity, low language barriers and a clear regulatory environment make it easy to do business. The potential is also reflected in export statistics, where Sweden's exports to the UK amounted to SEK 74.4 billion in 2017

Business Sweden UK has good experience with Swedish companies aiming to export from Sweden by establishing and expanding in the UK market. We have identified five industries with high potential for Swedish companies, namely IT and Telecom, Energy and Environmental Engineering, Manufacturing Industry, Retail and Consumer Products, Healthcare and Life Sciences

IT och Telecom

UK has the largest and fastest growing IT sector in Europe, sales of software and services primarily drives the market. The composition of the economy creates opportunities for both generic and vertical-niched IT providers. There is an equal strong demand in the public as well as in the private sector for cloud services and IT security. UK has the largest mobile phone market in Europe and in terms of GDP the world's largest internet economy. IoT is expected to generate £ 100 billion over 10 years and E-Health and Big Data are essential for the British public health sector NHS as supply and demand are forecasted to increase 

Energy and Environmental Engineering

UK is the country in Europe with one of the most ambitious climate change targets. By 2020, 15% of UK's energy consumption will origin from renewable energy sources. Consequently, renewable energy has more than doubled over the last five years. Interesting areas for many Swedish companies are found in e g district heating, sustainable transport systems, wind power and waste management 

Manufacturing Industries

UK is the ninth largest manufacturing nation in the world and the sector has a similar composition as the Swedish, creating export opportunities for Swedish manufacturing companies. The British manufacturing industry accounts for about one tenth of the country's GDP. The automotive and aerospace industries are two of the fastest growing sectors in manufacturing industries. Some major trends in manufacturing industries are re-shoring, automation and introduction of new technologies and materials 

Retail and Consumer Products

Retail in UK is the second largest in Europe with sustained growth driven primarily by online and food retailing. It is an important sector for the British economy and represents around 20% of the country’s GDP. London has the largest concentration of retail in Europe and is the largest importer of international brands

Online shopping is largest in UK throughout Europe and is expected to grow well in the coming years. However, in-store sales still account for approximately 85% of the total sector. The grocery industry in the UK accounts for half of the retail trade and is valued at £158 billion. Since 2012, Business Sweden has partnered with Ocado to offer British consumers Swedish food through the online shop ‘Try Swedish’ at Ocado. Clothing consumption in the UK has seen steady growth over the last 5 years and has a turnover of £40 billion. UK has been influenced by the so-called "Scandimania" phenomenon, where British consumers demand Swedish and Scandinavian design, which is positive for retail exports from Sweden 

Healthcare and Life Sciences

The National Health Care NHS is the world's largest integrated public health care system. NHS faces a number of challenges, such as addressing increased costs due to an aging population and lifestyle-related diseases in order to counter budget deficits. These challenges open up to business opportunities for Swedish companies that work in prevention and value-based care, diabetes care and e-health, which are focus areas for the Department of Health