There are certainly words in British English that don't appear to exist in American English. A while ago I used the word "whinge" in a post here at MR, for example, and an American poster asked me what it meant.
Not having a word in a language doesn't mean that you can't explain the concept with a phrase, of course. Eg, there's no direct English equivalent for the very useful German word "Schadenfreude", but it's easy to explain in English as "taking pleasure from the misfortune of others".
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