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

The UK’s deficit on trade in goods and services widened by £0.7 billion to £3.7 billion in February 2017 from an upwardly revised £3.0 billion in January. Imports increased in the month by £0.3 billion to a new record of £52.1 billion, due to an increase in purchases of goods from the EU. Exports decreased by £0.4 billion to £48.5 billion, led by a decrease in exports of trade in services of £0.3 billion. Between the three months to November 2016 and the three months to February 2017, the trade deficit narrowed by £0.3 billion to £8.5 billion. Balance of Trade in the United Kingdom averaged -1461.30 GBP Million from 1955 until 2017, 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)
2017-02-10 09:30 AM Dec £-3.30B £-3.56B £-2.7B
2017-03-10 09:30 AM Jan £-1.97B £-2.03B £-3.8B
2017-04-07 08:30 AM Feb £-3.66B £-2.98B £-3.2B
2017-05-11 08:30 AM Mar £-3.66B
2017-06-09 08:30 AM Apr
2017-07-07 08:30 AM May




UK Trade Deficit Widens On Higher Imports


The UK’s deficit on trade in goods and services widened by £0.7 billion to £3.7 billion in February 2017 from an upwardly revised £3.0 billion in January. Imports increased in the month by £0.3 billion to a new record of £52.1 billion, due to an increase in purchases of goods from the EU. Exports decreased by £0.4 billion to £48.5 billion, led by a decrease in exports of trade in services of £0.3 billion.

Imports of goods and services rose by £0.3 billion to a new record high of £52.1 billion from £51.8 billion in the previous month, mainly due to an increase in purchases of erratic goods. Imports of goods from the EU increased by 2.9 percent, mainly from Ireland (26.6 percent), Spain (16.9 percent), Italy (7.3 percent), France (5.8 percent) and Germany (3.1 percent). Imports also rose from Canada (88 percent), Japan (25.6 percent), and the US (5.1 percent); but fell from Norway (-25.2 percent) and China (-3.3 percent). 

Exports of goods and services decreased by £0.4 billion to £48.5 billion in February from £48.8 billion in January, due to a decrease of £0.3 billion in exports of trade in services. Sales of goods also fell, mainly to Sweden (-11.6 percent), Canada (-8.5 percent), the US (-5.7 percent). By contrast, exports rose to Spain (8.7 percent), Japan (3.8 percent), China (3.5 percent) and Ireland (1.3 percent).

On the price front, export prices decreased by 0.5 percent and import prices decreased by 0.9 percent. The value of sterling was 0.8 percent higher in February 2017 compared with the January average. However, it remains 10.4 percent lower when compared with February 2016.

Between the 3 months to November 2016 and the 3 months to February 2017, the total trade deficit (goods and services) narrowed by £0.3 billion to £8.5 billion. The narrowing of the deficit reflected a greater rise in exports (3.1 percent) than the rise in imports (2.7 percent) over the period. This was mainly due to increases in exports of machinery and transport equipment, oil and chemicals.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
4/7/2017 9:16:31 AM



United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -3663.00 -2975.00 2946.00 -6058.00 GBP Million [+]
Exports 48451.00 48816.00 49817.00 962.00 GBP Million [+]
Imports 52114.00 51791.00 52114.00 1031.00 GBP Million [+]
Current Account -12088.00 -25701.00 2657.00 -26298.00 GBP Million [+]
Current Account to GDP -4.40 -4.30 2.60 -4.70 percent [+]
External Debt 6085392.00 6176450.00 6428718.00 565439.00 GBP Million [+]
Terms of Trade 101.10 100.60 107.60 80.10 Index Points [+]
Capital Flows 51392.00 26731.00 51392.00 -10498.00 GBP Million [+]
Foreign Direct Investment 110946.00 45227.00 110946.00 -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 1170.00 1500.00 2669.00 126.00 GBP Million [+]
Tourist Arrivals 2300.00 2850.00 3800.00 540.00 Thousand [+]
Weapons Sales 1214.00 1644.00 6069.00 744.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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 April of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-3663.00 -2975.00 2946.00 -6058.00 1955 - 2017 GBP Million Monthly



Last
Afghanistan -7151.00 Dec/16
Albania -31106.20 Mar/17
Algeria -1308.00 Dec/15
Angola 4470.03 Jun/16
Argentina -122.00 Feb/17
Armenia -141.60 Mar/17
Aruba -465.10 Sep/16
Australia 3574.00 Feb/17
Austria -159.00 Jan/17
Azerbaijan 1291382.00 Dec/16
Bahamas -557.30 Dec/16
Bahrain 312.40 Dec/15
Bangladesh -113.50 Jan/17
Barbados -213020.00 Nov/16
Belarus -154.80 Feb/17
Belgium 2241.40 Feb/17
Belize -106.50 Jan/17
Benin -379.80 Dec/16
Bhutan -35828.70 Dec/16
Bolivia -265.44 Dec/16
Bosnia and Herzegovina -631299.06 Feb/17
Botswana -24.00 Dec/16
Brazil 7145.00 Mar/17
Brunei 376.90 Feb/17
Bulgaria -157.40 Feb/17
Burkina Faso -86.40 Mar/16
Burundi -80703.95 Jan/17
Cambodia -994.90 Nov/16
Cameroon -1189.42 Dec/14
Canada -972.10 Feb/17
Cape Verde -6589.70 Feb/17
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 290.30 Mar/17
China 239.20 Mar/17
Colombia -0.99 Feb/17
Comoros -73203.00 Dec/16
Congo 1001.80 Dec/14
Costa Rica -385.90 Mar/17
Croatia -3822.78 Feb/17
Cuba -9578.00 Dec/15
Cyprus -273026.00 Feb/17
Czech Republic 38954.00 Feb/17
Denmark 4108.40 Feb/17
Djibouti -168260.00 Dec/15
Dominican Republic -589.40 Jun/16
East Timor -9404.27 Dec/16
Ecuador 283225.00 Feb/17
Egypt -2084.00 Feb/17
El Salvador -314.09 Feb/17
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -96.63 Feb/17
Ethiopia -3565.10 Sep/16
Euro Area 17800.00 Feb/17
European Union 1699.20 Feb/17
Fiji -255170.00 Nov/16
Finland -280.00 Feb/17
France -6568.00 Feb/17
Gabon 3711.95 Dec/13
Gambia -2344.80 Jun/16
Georgia -397.10 Mar/17
Germany 19881.00 Feb/17
Ghana 46.90 Dec/16
Greece -1977.80 Feb/17
Guatemala -541.00 Jan/17
Guinea 32.97 Sep/16
Guinea Bissau 8.20 Dec/15
Guyana -133.90 Sep/16
Haiti -236.40 Sep/16
Honduras -452.80 Dec/16
Hong Kong -56271.00 Feb/17
Hungary 281000.00 Feb/17
Iceland -16200.00 Mar/17
India -10437.20 Mar/17
Indonesia 1234.00 Mar/17
Iran 4127.00 Sep/16
Iraq 4397.00 Dec/15
Ireland 4735800.00 Feb/17
Israel -702.90 Feb/17
Italy 1884.00 Feb/17
Ivory Coast 1256.00 Dec/15
Jamaica -723200.00 Jun/16
Japan 614.72 Mar/17
Jordan -709700.00 Jan/17
Kazakhstan 1577.20 Feb/17
Kenya -76470.00 Dec/16
Kosovo -174189.00 Feb/17
Kuwait 1693.00 Dec/16
Kyrgyzstan -111.20 Feb/17
Laos -339.15 Jun/16
Latvia -151.80 Feb/17
Lebanon -1421.92 Feb/17
Lesotho -2305.61 Sep/16
Liberia -82.20 Sep/16
Libya -7687.60 Dec/15
Liechtenstein 343493.00 Dec/16
Lithuania -250.20 Feb/17
Luxembourg -0.35 Jan/17
Macau -4279600.00 Feb/17
Macedonia -142509.00 Feb/17
Madagascar 20810.00 Dec/16
Malawi -52012.50 Sep/16
Malaysia 8708.72 Feb/17
Maldives -171.90 Nov/16
Mali -226.10 Sep/15
Malta -127663.00 Feb/17
Mauritania -79.64 Mar/16
Mauritius -5647.00 Feb/17
Mexico 684.00 Feb/17
Moldova -156.10 Feb/17
Monaco -119.40 Dec/16
Mongolia 189.40 Mar/17
Montenegro -126665.00 Feb/17
Morocco -11927.00 Feb/17
Mozambique 18.20 Dec/16
Myanmar -332.60 Jul/16
Namibia -10235.56 Dec/16
Nepal -65907.40 Sep/16
Netherlands 5585.00 Feb/17
New Caledonia -10978.00 Dec/16
New Zealand -18.29 Feb/17
Nicaragua -268.30 Dec/16
Niger -108402.00 Sep/16
Nigeria 227044.30 Dec/16
North Korea -476.67 Dec/15
Norway 22719.43 Mar/17
Oman 205.90 Nov/16
Pakistan -336061.00 Mar/17
Palestine -343.00 Jan/17
Panama -698306.16 Feb/17
Papua New Guinea 4593.00 Sep/16
Paraguay 118135.00 Mar/17
Peru 741.00 Feb/17
Philippines -1728241.69 Feb/17
Poland -537.00 Feb/17
Portugal -746.19 Feb/17
Puerto Rico 2830.80 Dec/16
Qatar 12321.00 Feb/17
Republic of the Congo 4092.35 Dec/10
Romania -651.60 Feb/17
Russia 10171.00 Feb/17
Rwanda -116.57 Nov/16
Sao Tome and Principe -27.04 Dec/16
Saudi Arabia 88253.00 Dec/16
Senegal -149.50 Jan/17
Serbia -365.80 Feb/17
Seychelles -23.40 Feb/17
Sierra Leone -52.89 Jun/16
Singapore 6098.90 Mar/17
Slovakia 344.00 Feb/17
Slovenia 15.03 Feb/17
Somalia -1473.48 Dec/15
South Africa 5216.14 Feb/17
South Korea 6550.00 Mar/17
South Sudan -104.70 Dec/15
Spain -2606000.00 Feb/17
Sri Lanka -773.00 Feb/17
Sudan -477522.00 Dec/16
Suriname 154.40 Dec/16
Swaziland 608.24 Sep/16
Sweden 0.00 Feb/17
Switzerland 3105.00 Feb/17
Syria 9394.50 Dec/10
Taiwan 3933.06 Mar/17
Tajikistan -117.70 Jan/17
Tanzania 150.30 Jan/17
Thailand 1616.92 Mar/17
Togo -74.03 Jun/16
Trinidad and Tobago -364.10 Jun/16
Tunisia -1368.30 Mar/17
Turkey -3690.00 Feb/17
Turkmenistan 2181.97 Dec/15
Uganda -181.00 Feb/17
Ukraine -336.20 Feb/17
United Arab Emirates 250900.00 Dec/16
United Kingdom -3663.00 Feb/17
United States -43557.00 Feb/17
Uruguay -63419.00 Feb/17
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam -1100.00 Mar/17
Yemen -2914.30 Dec/13
Zambia -998.80 Sep/16
Zimbabwe -197.50 Dec/16