United Kingdom Balance of Trade  1955-2017 | Data | Chart | Calendar

The UK’s deficit on trade in goods and services narrowed by £0.3 billion to £3.3 billion in December 2016 from a downwardly revised £3.6 billion in the previous month. Exports rose by 2.4 percent to an all-time high of £48.8 billion, boosted by an increase in exports of goods to non-EU countries of £1.1 billion, while imports increased at a slower 1.7 percent also to a record £52.1 billion. In 2016, the total trade deficit widened to £39.4 billion from £29.8 billion in 2015, mainly due to a £29.3 billion increase in imports of goods, with 61.2 percent of this rise coming from EU countries. Balance of Trade in the United Kingdom averaged -1458.28 GBP Million from 1955 until 2016, reaching an all time high of 2946 GBP Million in March of 1981 and a record low of -6058 GBP Million in November of 2013.

United Kingdom Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-12-09 09:30 AM Oct £-1.97B £-5.81B £ -3.4B
2017-01-11 09:30 AM Nov £-4.17B £-1.55B
2017-02-10 09:30 AM Dec £-3.30B £-3.56B £-2.7B
2017-03-10 09:30 AM Jan £-3.30B
2017-04-07 08:30 AM Feb
2017-05-11 08:30 AM Mar




UK Trade Deficit Narrows On Higher Exports In December


The UK’s deficit on trade in goods and services narrowed by £0.3 billion to £3.3 billion in December 2016 from a downwardly revised £3.6 billion in the previous month. Exports rose by 2.4 percent to an all-time high of £48.8 billion, while imports increased at a slower 1.7 percent also to a record £52.1 billion.

In December 2016, exports of goods and services increased by 2.4 percent from the previous month to an all-time high of £48.8 billion, mainly due to an increase in exports of goods to non-EU countries of £1.1 billion. Sales rose for erratic commodities, in particular non-monetary gold and aircraft; non-ferrous and other metals; and chemicals. 

Imports rose by 1.7 percent also to a record high of £52.1 billion, boosted by increases in the imports of material manufactures, including non-ferrous metals, iron and steel; machinery; road vehicles other than cars; and miscellaneous finished manufactures, including jewellery. By contrast, the imports of oil and chemicals fell.

In the fourth quarter of 2016, the deficit on goods and services narrowed by £5.6 billion to £8.6 billion from £14.1 billion in the previous period. This reflects an increase in exports in goods of £7.8 billion, mainly due to an increase in exports of goods to non-EU countries, while imports rose at a slower £2.2 billion. Exports of goods to non-EU countries rose by 17.3 percent to £43.8 billion. There was a smaller increase of 3.5 percent for exports to the EU, to £38.3 billion for the same period. Imports of goods from EU countries increased by 4.1 percent to £63.6 billion, with increases across all commodity groups. Imports to non-EU countries fell by 2.9 percent to £51.1 billion over the same period.

Considering 2016 full year, the total trade deficit widened to £39.4 billion from £29.8 billion in 2015, as imports increased more than exports. Purchases of goods and services went up by 6.4 percent to £582.3 billion from £547.2 billion the previous year, mainly due to higher imports of goods, with 61.2 percent of this rise coming from EU countries. Exports rose by 4.9 percent to £542.9 billion from £517.4 billion in 2015.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/10/2017 10:21:17 AM



United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -3304.00 -3559.00 2946.00 -6058.00 GBP Million [+]
Exports 48822.00 47687.00 48822.00 962.00 GBP Million [+]
Imports 52126.00 51246.00 52126.00 1031.00 GBP Million [+]
Current Account -25494.00 -22079.00 2657.00 -26298.00 GBP Million [+]
Current Account to GDP -5.20 -5.10 2.60 -5.20 percent [+]
External Debt 6176450.00 5955263.00 6428718.00 565439.00 GBP Million [+]
Terms of Trade 101.10 101.10 107.60 80.10 Index Points [+]
Capital Flows 22430.00 22018.00 35319.00 -10498.00 GBP Million [+]
Foreign Direct Investment 25292.00 28994.00 82539.00 -44536.00 GBP Million [+]
Gold Reserves 310.29 310.29 588.27 310.25 Tonnes [+]
Crude Oil Production 978.00 1014.00 2821.00 1.00 BBL/D/1K [+]
Terrorism Index 5.08 5.61 5.68 4.19 [+]
Tourism Revenues 1760.00 1700.00 2669.00 126.00 GBP Million [+]
Tourist Arrivals 2860.00 3100.00 3800.00 540.00 Thousand [+]
Weapons Sales 1214.00 1644.00 6069.00 744.00 USD Million [+]



United Kingdom Balance of Trade Notes

The UK's trade balance has been in deficit since 1998, due to deficits in trade in goods which are partly offset by surpluses in trade in services. The level of total UK trade in goods as a proportion of total trade in goods and services has been gradually declining since 1986 after peaking at 75 percent in 1985. This is consistent with the rising share of UK trade in services (44 percent of total trade in 2016). In 2016, the biggest goods deficits were recorded with Germany, China, and the Netherlands, and the largest surpluses were recorded with the United States and Ireland. This page provides - United Kingdom Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Balance of Trade - actual data, historical chart and calendar of releases - was last updated on February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-3304.00 -3559.00 2946.00 -6058.00 1955 - 2016 GBP Million Monthly



Last
Afghanistan -7159.00 Dec/15
Albania -15870.70 Jan/17
Algeria -1308.00 Dec/15
Angola 4470.03 Jun/16
Argentina -106.00 Jan/17
Armenia -115.70 Jan/17
Aruba -465.10 Sep/16
Australia 3511.00 Dec/16
Austria -284.00 Nov/16
Azerbaijan 981353.00 Sep/16
Bahamas -517.60 Sep/16
Bahrain 312.40 Dec/15
Bangladesh -113.51 Nov/16
Barbados -213020.00 Nov/16
Belarus -493.30 Dec/16
Belgium 1837.10 Dec/16
Belize -156.00 Dec/16
Benin -278.15 Sep/16
Bhutan -35828.70 Dec/16
Bolivia -116.89 Sep/16
Bosnia and Herzegovina -609171.99 Dec/16
Botswana 1541.10 Nov/16
Brazil 2724.00 Jan/17
Brunei 203.30 Dec/16
Bulgaria -408.10 Dec/16
Burkina Faso -86.40 Mar/16
Burundi -118434.20 Aug/16
Cambodia -554.50 Sep/16
Cameroon -1189.42 Dec/14
Canada 922.80 Dec/16
Cape Verde -5560.90 Nov/16
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 719.92 Jan/17
China 513.50 Jan/17
Colombia -0.67 Dec/16
Comoros -73203.00 Dec/16
Congo 1001.80 Dec/14
Costa Rica -539.10 Jan/17
Croatia -4663.06 Dec/16
Cuba -9578.00 Dec/15
Cyprus -407621.00 Dec/16
Czech Republic 21481.00 Dec/16
Denmark 3788.10 Dec/16
Djibouti -168260.00 Dec/15
Dominican Republic -589.40 Jun/16
East Timor -9404.27 Dec/16
Ecuador 15100.00 Dec/16
Egypt -2392.00 Nov/16
El Salvador -424.16 Dec/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -170.31 Dec/16
Ethiopia -3565.10 Sep/16
Euro Area 28142.20 Dec/16
European Union 20885.30 Dec/16
Fiji -204403.00 Sep/16
Finland -530.00 Dec/16
France -3421.00 Dec/16
Gabon 3711.95 Dec/13
Gambia -2344.80 Jun/16
Georgia -297.60 Jan/17
Germany 18700.00 Dec/16
Ghana -452.40 Sep/16
Greece -1566.60 Dec/16
Guatemala -488.00 Dec/16
Guinea 32.97 Sep/16
Guinea Bissau 8.20 Dec/15
Guyana -133.90 Sep/16
Haiti -236.40 Sep/16
Honduras -490.00 Nov/16
Hong Kong -45477.00 Dec/16
Hungary 173000.00 Dec/16
Iceland -6700.00 Jan/17
India -9840.90 Jan/17
Indonesia 1395.80 Jan/17
Iran 4127.00 Sep/16
Iraq 4397.00 Dec/15
Ireland 4017900.00 Dec/16
Israel -705.40 Jan/17
Italy 5797.75 Dec/16
Ivory Coast 1256.00 Dec/15
Jamaica -723200.00 Jun/16
Japan -1086.90 Jan/17
Jordan -721456.00 Dec/16
Kazakhstan 1443.10 Dec/16
Kenya -79843.00 Nov/16
Kosovo -247031.00 Dec/16
Kuwait 1422.20 Sep/16
Kyrgyzstan -114.40 Dec/16
Laos -339.15 Jun/16
Latvia -240.10 Dec/16
Lebanon -1292.24 Dec/16
Lesotho -2305.61 Sep/16
Liberia -82.20 Sep/16
Libya -7687.60 Dec/15
Liechtenstein 343493.00 Dec/16
Lithuania -238.00 Dec/16
Luxembourg -0.44 Nov/16
Macau -6002747.00 Dec/16
Macedonia -201662.00 Dec/16
Madagascar 20810.00 Dec/16
Malawi -53950.00 Mar/16
Malaysia 8720.00 Dec/16
Maldives -171.90 Nov/16
Mali -226.10 Sep/15
Malta -151832.00 Dec/16
Mauritania -79.64 Mar/16
Mauritius -7927.00 Dec/16
Mexico 28.00 Dec/16
Moldova -197.50 Dec/16
Monaco -104.50 Jun/16
Mongolia 151.40 Jan/17
Montenegro -140962.00 Dec/16
Morocco -16689.00 Dec/16
Mozambique -434.30 Sep/16
Myanmar -303.20 May/16
Namibia -6654.37 Sep/16
Nepal -80884.00 Jun/16
Netherlands 5494.00 Dec/16
New Caledonia -7307.00 Oct/16
New Zealand -41.38 Dec/16
Nicaragua -294.50 Nov/16
Niger -108402.00 Sep/16
Nigeria -27238.30 Sep/16
North Korea -476.67 Dec/15
Norway 25045.75 Jan/17
Oman 90.00 Sep/16
Pakistan -309673.00 Jan/17
Palestine -372.00 Dec/16
Panama -1009640.52 Dec/16
Papua New Guinea 3223.00 Jun/16
Paraguay -209595.00 Jan/17
Peru 1023.00 Dec/16
Philippines -2564000.00 Dec/16
Poland -151.00 Dec/16
Portugal -1373.50 Dec/16
Puerto Rico 2204.40 Nov/16
Qatar 10746.00 Dec/16
Republic of the Congo 4092.35 Dec/10
Romania -1185.40 Dec/16
Russia 11834.00 Dec/16
Rwanda -116.57 Nov/16
Sao Tome and Principe -27.04 Dec/16
Saudi Arabia 73133.00 Sep/16
Senegal -96.90 Dec/16
Serbia -514.40 Dec/16
Seychelles -38.40 Dec/16
Sierra Leone -52.89 Jun/16
Singapore 3287.37 Jan/17
Slovakia -120.00 Dec/16
Slovenia 18.80 Dec/16
Somalia -1473.48 Dec/15
South Africa 12036.48 Dec/16
South Korea 3200.00 Jan/17
South Sudan -104.70 Dec/15
Spain -2447000.00 Dec/16
Sri Lanka -957.00 Dec/16
Sudan -338394.00 Sep/16
Suriname 42.20 Sep/16
Swaziland -320.72 Jun/16
Sweden 1000.00 Dec/16
Switzerland 4733.00 Jan/17
Syria 9394.50 Dec/10
Taiwan 3494.92 Jan/17
Tajikistan -196.00 Dec/16
Tanzania -26.00 Nov/16
Thailand 940.00 Dec/16
Togo -74.03 Jun/16
Trinidad and Tobago -364.10 Jun/16
Tunisia -1221.80 Jan/17
Turkey -5598.00 Dec/16
Turkmenistan 2181.97 Dec/15
Uganda -143.40 Dec/16
Ukraine -561.70 Dec/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -3304.00 Dec/16
United States -44262.00 Dec/16
Uruguay -127557.00 Dec/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam 1150.00 Jan/17
Yemen -2914.30 Dec/13
Zambia -998.80 Sep/16
Zimbabwe -241.27 Aug/16