The UK is experiencing the highest increase in insolvencies in 2019 and 2020 in Western Europe, with a forecasted 10% rise this year and a 5% increase in 2020. This is due to a meagre 1.4% expansion of the economy, putting upward pressure on business failures. The proportion of total B2B sales made on credit in the UK has remained relatively stable over the past few years, with a slight increase in 2019. The top 5 trading partners for the UK are Germany, China, Netherlands, United States (inc Puerto Rico), and France, with cars, medicinal & pharmaceutical products, and refined oil being the top imports. The top 5 exports are cars, medicinal & pharmaceutical products, refined oil, mechanical power generators (intermediate), and clothing.
