United Kingdom Balance of Trade  1955-2016 | Data | Chart | Calendar

British trade gap declined to GBP 3294 million in April of 2016 from a downwardly revised GBP 3532 million shortfall in March. It is the lowest deficit since September last year as exports of both goods and services recorded the biggest rise in more than six years, boosted by sales of chemicals, machinery, oil, cars, clothing, beverages and aircraft. Balance of Trade in the United Kingdom averaged -1421.12 GBP Million from 1955 until 2016, reaching an all time high of 2946 GBP Million in March of 1981 and a record low of -5467 GBP Million in December of 2014. 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
-3294.00 -3532.00 2946.00 -5467.00 1955 - 2016 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 2015, 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. United Kingdom Balance of Trade - actual data, historical chart and calendar of releases - was last updated on June of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-08 08:30 AM Feb £-4.84B £-5.23B £ -3.7B
2016-05-10 08:30 AM Mar £-3.83B £-4.3B £ -4.7B
2016-06-09 08:30 AM Apr £-3.294B £-3.532B £ -4B
2016-07-08 08:30 AM May £-3.294B £ -3.8B
2016-08-09 08:30 AM Jun £ -3.6B
2016-09-09 08:30 AM Jul £ -3.6B

UK Trade Deficit Narrows for 3rd Month


British trade gap declined to GBP 3294 million in April of 2016 from a downwardly revised GBP 3532 million shortfall in March. It is the lowest deficit since September last year as exports of both goods and services recorded the biggest rise in more than six years, boosted by sales of chemicals, machinery, oil, cars, clothing, beverages and aircraft.

Exports jumped 5.3 percent to GBP 44945 million in April from March. It is the biggest gain since February of 2010 and the highest value since August of 2013. This increase comprised a GBP 2.2 billion (9.1 percent) growth in exports of goods (the highest percentage increase since January 2003) and a GBP 0.1 billion (0.5 percent) rise in export of services. 

Sales of chemicals went up by GBP 0.5 billion; machinery grew by GBP 0.4 billion; oil increased GBP 0.3 billion; cars and unspecified goods rose GBP 0.2 billion and sales of clothing, beverages and aircraft all increased by GBP 0.1 billion. 

Imports went up 4.4 percent to GBP 48239 million, recovering from falls in the previous two months and rising the most since October. Purchases were boosted by a GBP 2 billion rise in imports of goods and attributed to a GBP 0.7 billion increase in chemicals, a GBP 0.4 billion rise in machinery and a GBP 0.2 billion increase in ships.

As a result, the deficit on trade in goods was GBP 10.5 billion in April, narrowing by GBP 0.1 billion from March 2016. The trade in services surplus widened by GBP 0.1 billion to GBP 7.2 billion.

Considering trade with the European Union, exports of goods increased by GBP 0.9 billion between March and April, boosted by oil and chemicals. Imports of goods rose by GBP 1.0 billion to a monthly record of GBP 20.1 billion, due to chemicals and machinery which offset a fall in aircraft. These movements resulted in widening of the trade in goods deficit with EU countries by GBP 0.1 billion, to a monthly deficit of GBP 7.9 billion in April 2016.

Sales to countries outside the EU increased by GBP 1.3 billion to a record GBP 14.0 billion, boosted by chemicals, machinery, cars and unspecified goods, beverages and aircraft. Imports rose by GBP 1.0 billion, due to chemicals, ships, machinery, clothing, aircraft, precious stones and non ferrous metals. These movements resulted in a GBP 0.3 billion narrowing of the deficit with non-EU countries to GBP 2.6 billion.


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
6/9/2016 10:09:48 AM

United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -3294.00 -3532.00 2946.00 -5467.00 GBP Million [+]
Exports 44945.00 42680.00 45102.00 962.00 GBP Million [+]
Imports 48239.00 46212.00 48703.00 1031.00 GBP Million [+]
Current Account -32662.00 -20111.00 2693.00 -32662.00 GBP Million [+]
Current Account to GDP -5.20 -5.10 2.60 -5.20 percent [+]
External Debt -65938.00 -348783.00 88871.00 -450721.00 GBP Million [+]
Terms of Trade 99.40 100.10 107.60 80.10 Index Points [+]
Capital Flows 21997.00 25175.00 34817.00 -10494.00 GBP Million [+]
Foreign Direct Investment 467.00 22369.00 82539.00 -44536.00 GBP Million [+]
Gold Reserves 310.29 310.29 588.27 310.25 Tonnes [+]
Crude Oil Production 978.00 891.00 2747.00 1.00 BBL/D/1K [+]
Terrorism Index 5.61 5.45 5.68 4.19 [+]
Weapons Sales 1214.00 1644.00 6069.00 744.00 USD Million [+]




Last
Afghanistan -7159.00 Dec/15
Albania -30114.00 Apr/16
Algeria -1270.00 Sep/15
Angola 3002.24 Dec/15
Argentina 439.00 May/16
Armenia -108.90 May/16
Aruba -520.80 Dec/15
Australia -1579.00 Apr/16
Austria 142.00 Mar/16
Azerbaijan 621706.00 Mar/16
Bahamas -514.90 Dec/15
Bahrain 3441.00 Dec/14
Bangladesh -57.02 Mar/16
Barbados -254822.00 Dec/15
Belarus -258.80 Apr/16
Belgium 1249.00 Apr/16
Belize -131.30 Apr/16
Benin -164.32 Mar/16
Bhutan -26021.60 Dec/15
Bolivia -355.90 Dec/15
Bosnia and Herzegovina -404.87 Apr/16
Botswana -20.60 Mar/16
Brazil 6437.00 May/16
Brunei 195.90 Apr/16
Bulgaria -156.80 Apr/16
Burkina Faso -49.00 Sep/14
Burundi -76937.10 Mar/16
Cambodia -786.30 Jan/16
Cameroon -1054.40 Dec/13
Canada -2936.70 Apr/16
Cape Verde -4178.80 Mar/16
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 744.79 May/16
China 499.80 May/16
Colombia -1.29 Apr/16
Comoros -73294.00 Dec/14
Congo 1001.80 Dec/14
Costa Rica -365.50 May/16
Croatia -4530.70 Apr/16
Cuba -9578.00 Dec/15
Cyprus -253738.00 Apr/16
Czech Republic 56003.00 Apr/16
Denmark 7736.70 Apr/16
Djibouti -119840.00 Dec/14
Dominican Republic -688.50 Dec/15
East Timor -49370.69 Mar/16
Ecuador 53993.00 Apr/16
Egypt -2717.00 Apr/16
El Salvador -359.50 Apr/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -149.00 Dec/12
Estonia -170.74 Apr/16
Ethiopia -3557.70 Dec/15
Euro Area 27481.90 Apr/16
European Union 5566.30 Apr/16
Fiji -262673.00 Dec/15
Finland -225.00 Apr/16
France -5219.00 Apr/16
Gabon 3711.95 Dec/13
Gambia -2269.53 Dec/14
Georgia -436.32 May/16
Germany 25607.00 Apr/16
Ghana -773.70 Mar/16
Greece -2057.60 Apr/16
Guatemala -499.04 Apr/16
Guinea -103.83 Jun/13
Guinea Bissau -23.80 Dec/14
Guyana -77.30 Sep/15
Haiti -179.27 Sep/15
Honduras -372.50 Mar/16
Hong Kong -26228.00 May/16
Hungary 299000.00 Apr/16
Iceland -15000.00 May/16
India -6272.90 May/16
Indonesia 375.60 May/16
Iran 4258.00 Dec/15
Iraq 38780.80 Dec/14
Ireland 4533900.00 Apr/16
Israel -950.30 Apr/16
Italy 4519.87 Apr/16
Ivory Coast 890.60 Dec/14
Jamaica -761100.00 Dec/15
Japan -40.72 May/16
Jordan -887215.00 Mar/16
Kazakhstan 711.70 Apr/16
Kenya -72360.00 Apr/16
Kosovo -227670.00 Apr/16
Kuwait 402.00 Mar/16
Kyrgyzstan -216.90 Mar/16
Laos -488.34 Sep/15
Latvia -164.00 May/16
Lebanon -1373.07 Apr/16
Lesotho -2961.47 Dec/15
Liberia -115.60 Mar/16
Libya -17675.60 Dec/14
Liechtenstein 371580.00 Mar/16
Lithuania -242.70 Apr/16
Luxembourg -0.39 Apr/16
Macau -4817945.50 Apr/16
Macedonia -192142.00 Apr/16
Madagascar 101517.00 Mar/16
Malawi -31524.80 Sep/15
Malaysia 9060.00 Apr/16
Maldives -165.70 Apr/16
Mali -100.60 Mar/15
Malta -247000.00 Apr/16
Mauritania -24.89 Dec/15
Mauritius -6081.00 Apr/16
Mexico -527.00 May/16
Moldova -194.30 Apr/16
Monaco 7.80 Mar/16
Mongolia 124.70 Apr/16
Montenegro -183453.00 May/16
Morocco -15231.00 Apr/16
Mozambique -1754.40 Dec/15
Myanmar -914.60 Nov/15
Namibia -8322.34 Dec/15
Nepal -58541.90 Dec/15
Netherlands 4942.00 Apr/16
New Caledonia -11870.00 Mar/16
New Zealand 358.00 May/16
Nicaragua -234.30 Mar/16
Niger -441985.00 Sep/15
Nigeria 171309.90 Mar/16
North Korea -476.67 Dec/15
Norway 6567.00 May/16
Oman -45.20 Dec/15
Pakistan -227733.00 May/16
Palestine -326.70 Mar/16
Panama -843451.00 Apr/16
Papua New Guinea 3957.00 Dec/15
Paraguay 54678.00 May/16
Peru 13.00 Apr/16
Philippines -2275000.00 Apr/16
Poland 520.00 Apr/16
Portugal -708.00 Apr/16
Puerto Rico 2415.30 Mar/16
Qatar 4782.00 Apr/16
Republic of the Congo 4092.35 Dec/10
Romania -836.20 Apr/16
Russia 6750.00 Apr/16
Rwanda -150.29 Dec/15
Sao Tome and Principe -24.59 Mar/16
Saudi Arabia 22467.00 Dec/15
Senegal -94.80 Mar/16
Serbia -310.90 Apr/16
Seychelles -32.60 Apr/16
Sierra Leone -33.70 Dec/15
Singapore 6124.50 May/16
Slovakia 404.00 Apr/16
Slovenia 114.18 Apr/16
Somalia -1473.48 Dec/15
South Africa 430.54 Apr/16
South Korea 7100.00 May/16
South Sudan -3492.00 Dec/14
Spain -637300.00 Apr/16
Sri Lanka -551.70 Feb/16
Sudan -489010.00 Mar/16
Suriname -23.00 Mar/16
Swaziland 1217.38 Dec/15
Sweden -2100.00 May/16
Switzerland 3785.97 May/16
Syria 9394.50 Dec/10
Taiwan 3500.00 May/16
Tajikistan -169.20 Mar/16
Tanzania 100.80 Mar/16
Thailand 1540.00 May/16
Togo -68.29 Dec/14
Trinidad and Tobago 258.50 Dec/15
Tunisia -1090.30 May/16
Turkey -4207.02 Apr/16
Turkmenistan 2431.94 Dec/14
Uganda -126.70 Apr/16
Ukraine -230.30 Mar/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -3294.00 Apr/16
United States -37436.00 Apr/16
Uruguay -322496.00 Apr/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam -100.00 Jun/16
Yemen -2914.30 Dec/13
Zambia -800.90 Mar/16
Zimbabwe -290.99 Dec/14