Skip to content

Pair · Q2 2026 · Aug 2025–Jul 2026

Goods, bank claims, portfolio holdings and direct investment between UK and France, each channel at its own period. Left, UK to France; right, France to UK.

Finance to trade

positions ÷ goods, both directions
Finance to trade22×positions ÷ goods, both directions
Financial positions, both directions1,688USD bn
Goods, both directions77.6USD bn

Bank, and positions in both directions over goods trade in both directions; financial centres show very high ratios because they hold securities for others.

Positions at the periods above, goods in the 12-month window. Calculations: datasteg.

The pair through time

2006–Jul 2026

Each channel at its own period on one time axis: goods every month (12-month windows), bank claims every quarter, portfolio holdings every half year, direct investment every year, and below them the finance-to-trade ratio by quarter. Solid lines are reported flows, dashed stretches estimated; the band between a goods line and its other report is the mirror gap where both reports exist. A month with no goods line is one where the pair fell below trade-flow’s 1,500 largest flows.

SinceUK → FranceFrance → UKother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnJul 2026 · 31.2 / 46.402550Bank claims · quarterly · USD bnQ2 2026 · 453 / 44105001,000Portfolio holdings · half-yearly · USD bnDec 2025 · 277 / 2770250500Direct investment · annual · USD bn2024 · 108 / 1330100200Finance to trade · quarterly, positions both ways ÷ goods both waysQ2 2026 · 22×0.0×25×50×20062008201020122014201620182020202220242026
Sources

The ratio starts in 2009, when the direct-investment survey begins: bank claims at the quarter, portfolio and direct investment at their latest period at or before it, goods in the 12 months to the quarter end. Calculations: datasteg global-network.

Goods UK → France

Aug 2025–Jul 2026

exports of UK to France, 12 months

Exports, 12 months31.2USD bnspliced
–importer’s report ÷ exporter’s
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Goods France → UK

Aug 2025–Jul 2026

exports of France to UK, 12 months

Exports, 12 months46.4USD bnreported
–importer’s report ÷ exporter’s
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

UK → France

Q2 2026

loans and deposits of banks in UK on residents of France

Position453USD bn
Flow in the quarter+15.5USD bnas published by the BIS
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

France → UK

Q2 2026

loans and deposits of banks in France on residents of UK

Position441USD bn
Flow in the quarter+41.0USD bnas published by the BIS
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

UK → France

Q4 2025

securities issued in France held by investors in UK

Total277USD bn
Equity112USD bn
Debt securities165USD bn
Sources

Holder to issuer, Q4 2025.

France → UK

Q4 2025

securities issued in UK held by investors in France

Total277USD bn
Equity84.6USD bn
Debt securities192USD bn
Sources

Holder to issuer, Q4 2025.

UK → France

2024

position of investors in UK in France

Position108USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.

France → UK

2024

position of investors in France in UK

Position133USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.