United Kingdom Balance of Trade 1955-2015 | Data | Chart | Calendar

The United Kingdom recorded a trade deficit of 393 GBP Million in May of 2015. Balance of Trade in the United Kingdom averaged -1292.52 GBP Million from 1955 until 2015, reaching an all time high of 2946 GBP Million in March of 1981 and a record low of -5397 GBP Million in March of 2008. Balance of Trade in the United Kingdom is reported by the Office for National Statistics.

  
United Kingdom Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
-393.00 -1834.00 2946.00 -5397.00 1955 - 2015 GBP Million Monthly
Since 1998, the United Kingdom has been running consistent trade deficits mainly due to increase in demand of consumer goods, decline in manufacturing, appreciation of the GBP and deterioration in oil and gas production. In 2013, the biggest trade deficits were recorded with Germany, China, and the Netherlands. The biggest trade surpluses were recorded with United States, Ireland and United Arab Emirates. This page provides - United Kingdom Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - United Kingdom Balance of Trade - was last refreshed on Sunday, August 2, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-05-08 09:30 AM Mar £-2.817B £-3.318B (R) £ -2.95B £ -2.1B
2015-06-09 09:30 AM Apr £-1.202B £-3.093B (R) £ -2.3B
2015-07-10 09:30 AM May £-0.393B £-1.834B (R) £ -1.4B
2015-08-07 09:30 AM Jun £-0.393B £ -0.6B
2015-09-09 09:30 AM Jul £ -1.9B
2015-10-09 09:30 AM Aug £ -1.9B


UK Trade Deficit at 2-Year Low


British trade gap decreased to £0.393 billion in May of 2015 from an upwardly revised £1.8 billion in April. It is the lowest shortfall since June of 2013, mainly driven by a drop in imports of ships.

The deficit on trade of goods and services reflects a gap of £8.0 billion on goods, partially offset by an estimated surplus of £7.6 billion on services. 

In detail, imports of goods decreased 4.1 percent to £32.6 billion in May from April, reaching the lowest level since April of 2011. Imports decreased for all of the main commodity groups including a £0.5 billion decrease in imports of ships and a £0.4 billion decrease attributed to material manufactures.

Exports of goods edged down 0.1 percent to £24.6 billion in May. Exports of fuels (specifically oil) increased by £0.5 billion and unspecified goods increased by £0.4 billion, whereas exports of chemicals decreased by £0.3 billion, miscellaneous manufactures (which includes jewellery and works of art) decreased by £0.4 billion and material manufactures decreased by £0.2 billion. 

In May 2015, the trade in goods deficit with the EU narrowed by £0.6 billion to £6.4 billion as imports decreased. The trade in goods deficit with countries outside the EU narrowed £0.8 billion to £1.6 billion, the smallest deficit since June 2013, again attributed to a decrease in imports.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
7/10/2015 9:55:55 AM


Recent Releases

UK Trade Deficit at 1-Year Low
British trade gap decreased to £1.2 billion in April from an upwardly revised £3 billion in the previous month. It is the lowest figure since March last year as exports posted the biggest gain in seven months while imports shrank.
Published on 2015-06-09

UK Trade Deficit Narrows in March
British trade gap decreased slightly to £2.8 billion in March from a revised £3.3 billion in the previous month as exports to countries outside the European Union rose and imports of aircraft and ships declined.
Published on 2015-05-08

UK Trade Deficit at 5-Month High
British trade gap increased to £2859 million in February from a revised £1536 million in the previous month as exports fell to a six-month low due to weaker sales to the United States.
Published on 2015-04-09

UK Trade Deficit Narrows to 1-1/2-Year Low
British trade gap decreased to £616 million in January from a revised £2142 million in the previous month. It is the lowest shortfall since June of 2013 due to a sharp drop in oil imports and higher exports of services.
Published on 2015-03-12


United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -393.00 -1834.00 2946.00 -5397.00 GBP Million [+]
Exports 43047.00 43027.00 46022.00 962.00 GBP Million [+]
Imports 43440.00 44861.00 47036.00 1031.00 GBP Million [+]
Current Account -26548.00 -28930.00 2693.00 -31806.00 GBP Million [+]
Current Account to GDP -5.50 -4.50 1.90 -5.50 percent [+]
External Debt -289323.00 -354675.00 88871.00 -450721.00 GBP Million [+]
Terms of Trade 99.30 99.30 107.60 80.10 Index Points [+]
Foreign Direct Investment 27211.00 11944.00 82671.00 -44438.00 GBP Million [+]
Gold Reserves 310.29 310.25 588.27 310.25 Tonnes [+]
Crude Oil Production 849.00 791.00 2747.00 1.00 BBL/D/1K [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -2751.00 May/15 -4136.00 2254.00 -4136.00 AUD Million [+]
Brazil 4527.00 Jun/15 2761.00 5659.37 -4058.14 USD Million [+]
Canada -3339.60 May/15 -2992.00 8524.80 -3853.00 CAD Million [+]
China 465.36 Jun/15 588.67 606.19 -319.71 USD Hundred Million [+]
Euro Area 18800.00 May/15 24941.50 24941.50 -16748.10 EUR Million [+]
France -4020.00 May/15 -3310.00 2674.00 -7086.00 EUR Million [+]
Germany 19600.00 May/15 21900.00 23468.80 -535.91 EUR Million [+]
India -10830.00 Jun/15 -10406.20 258.90 -20210.90 USD Million [+]
Indonesia 477.00 Jun/15 1076.60 4641.92 -2329.13 USD Million [+]
Italy 4184.00 May/15 3728.00 6923.00 -6389.30 EUR Million [+]
Japan -69.00 Jun/15 -217.18 1608.67 -2795.04 JPY Billion [+]
Mexico -749.00 Jun/15 -1017.00 1710.25 -3292.30 USD Million [+]
Netherlands 3191.00 May/15 5434.70 6211.40 -907.60 EUR Million [+]
Russia 13700.00 Jun/15 15309.00 20356.00 -185.00 USD Million [+]
South Korea 7760.00 Jul/15 9980.00 9980.00 -4043.45 USD Million [+]
Spain -1657308.00 May/15 -2253100.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3578.49 Jun/15 3408.61 3894.91 -1478.68 CHF million [+]
Turkey -6205.89 Jun/15 -6753.00 24.51 -10453.06 USD Million [+]
United Kingdom -393.00 May/15 -1834.00 2946.00 -5397.00 GBP Million [+]
United States -41871.00 May/15 -40698.00 1946.00 -67823.00 USD Million [+]