This year's update includes estimates for UK education related exports and TNE activity for 2020. The UK economy was heavily impacted by the Coronavirus (Covid-19) pandemic in 2020. Analysis by the Office for National Statistics suggests that UK trade in goods and services fell in 2020 as a consequence of the pandemic. In addition, the education system suffered from weeks of school, college and university closures. As such, 2020 estimates must be used with care to reflect this unusual context.
Figure 1 below shows the increase in UK education related exports and TNE activity to £25.6 billion (current prices) in 2020. The revenue from UK education related exports and TNE activity has grown steadily since 2010. The overall revenue has increased by 61.2% or £9.7 billion in current prices since 2010. UK education related exports account for £8.5 billion of the £9.7 billion increase with UK TNE accounting for the remaining £1.2 billion.
Since 2010, total UK education related exports have grown by 57.5% in current prices. TNE activity has grown at a significantly faster rate of 112.9% over the same period. However, this growth has occurred from a lower base, £1.1 billion for TNE activity compared to £14.8 billion for total UK education related exports.
Between 2019 and 2020 total UK education exports and TNE activity grew by 0.8%, This is 7.0 percentage points lower than the rate of growth seen between 2018 and 2019. This reflects the lower growth rate in total UK education related exports which grew by 0.5% between 2019 and 2020, compared to 8.0% in the previous year. However, UK TNE activity has grown by 4.1% between 2019 and 2020. This is the second consecutive year of TNE activity growth since it decreased between 2017 and 2018.