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

British trade gap declined for the second straight month to GBP 3.83 billion in March of 2016 from a downwardly revised GDP 4.3 billion deficit in February as exports gained the most in six months. However, the gap for the first quarter was the highest in eight years as weak external demand weighed on exports. Balance of Trade in the United Kingdom averaged -1408.82 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
-3830.00 -3459.00 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 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. United Kingdom Balance of Trade - actual data, historical chart and calendar of releases - was last updated on May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-11 09:30 AM Jan £-3.46B £-3.69B £ -3.0B £ -2.8B
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 £-3.83B £ -4B
2016-07-08 08:30 AM May £ -4.2B
2016-08-09 08:30 AM Jun £ -4.1B

UK Trade Deficit Narrows to 3-Month Low


British trade gap declined for the second straight month to GBP 3.83 billion in March of 2016 from a downwardly revised GDP 4.3 billion deficit in February as exports gained the most in six months. However, the gap for the first quarter was the highest in eight years as weak external demand weighed on exports.

The narrowing is attributed to both trade in goods and trade in services. The trade in goods deficit has narrowed by GBP 0.2 billion to GBP 11.2 billion and the trade in services surplus increased by GBP 0.3 billion to GBP 7.4 billion.

Total exports rose 1.2 percent to GBP 42.6 billion, following a 0.8 percent gain in February. The increase was mainly attributed to a GBP 0.6 billion rise in unspecified goods and a GBP 0.2 billion increase in sales of aircraft, offset by a GBP 0.5 billion fall in chemicals. 

Imports edged up 0.1 percent to GBP 46.4 billion, recovering from a 1.1 percent fall in February, mainly attributed to a GBP 0.4 billion increase in oil and a GBP 0.2 billion rise in aircraft purchases, offset by a GBP 0.3 billion fall in chemicals.

Exports of goods to EU countries was unchanged between February and March 2016 while imports went up by GBP 16.0 million, to a monthly record of GBP 19.4 billion.

Considering the first quarter of the year, exports grew 0.4 percent from the previous period and imports went up at a faster 1.1 percent. As a result, the total trade deficit for goods and services widened by GBP 1.1 billion to GBP 13.3 billion, the highest gap since the first quarter of 2008. The deficit on trade in goods widened by GBP 1.4 billion to a record quarterly deficit of GBP 34.7 billion.

Exports of goods to EU countries increased by GBP 0.5 billion due to exports of chemicals while sales of fuels other than oil fell GBP 0.4 billion. Imports from the EU increased by GBP 1.3 billion, with increases in imports of mechanical machinery and chemicals. This resulted in a widening of the trade in goods deficit with EU countries to a record quarterly and 3 monthly level of GBP 3.9 billion in the first quarter of 2016.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
5/10/2016 10:32:52 AM

United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -3830.00 -3459.00 2946.00 -5467.00 GBP Million [+]
Exports 42606.00 41681.00 45102.00 962.00 GBP Million [+]
Imports 46436.00 44845.00 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 100.10 98.90 107.60 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 [+]




Last
Afghanistan -7159.00 Dec/15
Albania -27150.00 Mar/16
Algeria -1270.00 Sep/15
Angola 3771.96 Sep/15
Argentina 332.00 Apr/16
Armenia -318.80 Apr/16
Aruba -491.66 Sep/15
Australia -2163.00 Mar/16
Austria -544.00 Feb/16
Azerbaijan 509849.00 Dec/15
Bahamas -514.90 Dec/15
Bahrain 3441.00 Dec/14
Bangladesh -48.12 Feb/16
Barbados -254822.00 Dec/15
Belarus -293.60 Mar/16
Belgium 2055.90 Mar/16
Belize -138.70 Feb/16
Benin -311.87 Dec/15
Bhutan -26021.60 Dec/15
Bolivia -355.90 Dec/15
Bosnia and Herzegovina -404.87 Apr/16
Botswana 549.30 Feb/16
Brazil 4860.00 Apr/16
Brunei 307.80 Mar/16
Bulgaria -289.30 Mar/16
Burkina Faso -49.00 Sep/14
Burundi -52214.90 Dec/15
Cambodia -786.30 Jan/16
Cameroon -1054.40 Dec/13
Canada -3414.00 Mar/16
Cape Verde -4178.80 Mar/16
Cayman Islands -791.40 Dec/14
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 556.00 Apr/16
China 455.62 Apr/16
Colombia -1.29 Mar/16
Comoros -73294.00 Dec/14
Congo 1001.80 Dec/14
Costa Rica -464.40 Apr/16
Croatia -5528.98 Mar/16
Cuba -7926.60 Dec/14
Cyprus -264946.00 Mar/16
Czech Republic 53900.00 Mar/16
Denmark 8108.60 Mar/16
Djibouti -119840.00 Dec/14
Dominican Republic -688.50 Dec/15
East Timor -49370.69 Mar/16
Ecuador 18691.00 Mar/16
Egypt -2258.00 Mar/16
El Salvador -322.60 Mar/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -149.00 Dec/12
Estonia -172.33 Mar/16
Ethiopia -3557.70 Dec/15
Euro Area 28644.00 Mar/16
European Union 7202.30 Mar/16
Fiji -185801.00 Nov/15
Finland -265.00 Mar/16
France -4368.00 Mar/16
Gabon 3711.95 Dec/13
Gambia -2269.53 Dec/14
Georgia -821.90 Apr/16
Germany 26000.00 Mar/16
Ghana -1226.00 Sep/15
Greece -1535.24 Mar/16
Guatemala -405.70 Mar/16
Guinea -103.83 Jun/13
Guinea Bissau -23.80 Dec/14
Guyana -77.30 Sep/15
Haiti -160.26 Jul/15
Honduras -465.70 Dec/15
Hong Kong -31027.00 Apr/16
Hungary 300000.00 Mar/16
Iceland -6600.00 Apr/16
India -4840.00 Apr/16
Indonesia 670.00 Apr/16
Iran 4258.00 Dec/15
Iraq 38780.80 Dec/14
Ireland 4106000.00 Mar/16
Israel -950.30 Apr/16
Italy 5360.00 Mar/16
Ivory Coast 890.60 Dec/14
Jamaica -779000.00 Sep/15
Japan 823.47 Apr/16
Jordan -741181.00 Feb/16
Kazakhstan 784.90 Mar/16
Kenya -60391.09 Mar/16
Kosovo -209942.00 Mar/16
Kuwait 1049.00 Dec/15
Kyrgyzstan -216.90 Mar/16
Laos -488.34 Sep/15
Latvia -192.00 Mar/16
Lebanon -1529.88 Mar/16
Lesotho -2961.47 Dec/15
Liberia -78.20 Feb/16
Libya -17675.60 Dec/14
Liechtenstein 371580.00 Mar/16
Lithuania -228.70 Mar/16
Luxembourg -0.44 Mar/16
Macau -4479038.32 Mar/16
Macedonia -193229.00 Mar/16
Madagascar -30435.00 Dec/15
Malawi -31524.80 Sep/15
Malaysia 11192.61 Mar/16
Maldives -133.30 Feb/16
Mali -100.60 Mar/15
Malta -177981.00 Mar/16
Mauritania -24.89 Dec/15
Mauritius -4607.00 Feb/16
Mexico -2079.60 Apr/16
Moldova -233.00 Mar/16
Monaco -22.60 Dec/15
Mongolia 124.70 Apr/16
Montenegro -155940.00 Apr/16
Morocco -15231.00 Apr/16
Mozambique -1274.70 Sep/15
Myanmar -72.20 Sep/15
Namibia -8322.34 Dec/15
Nepal -58541.90 Dec/15
Netherlands 5017.00 Mar/16
New Caledonia -9528.00 Feb/16
New Zealand 292.00 Apr/16
Nicaragua -225.70 Feb/16
Niger -441985.00 Sep/15
Nigeria 26385.50 Dec/15
North Korea -476.67 Dec/15
Norway 10602.00 Apr/16
Oman -45.20 Dec/15
Pakistan -225061.00 Apr/16
Palestine -326.70 Mar/16
Panama -950888.00 Mar/16
Papua New Guinea 4191.00 Sep/15
Paraguay 125672.34 Apr/16
Peru -45.00 Mar/16
Philippines -1747000.00 Mar/16
Poland 204.00 Mar/16
Portugal -1039.99 Mar/16
Puerto Rico 2054.10 Dec/15
Qatar 7409.00 Feb/16
Republic of the Congo 4092.35 Dec/10
Romania -973.90 Mar/16
Russia 7712.00 Mar/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 -406.80 Mar/16
Seychelles -31.02 Mar/16
Sierra Leone -89.75 Mar/15
Singapore 5843.00 Apr/16
Slovakia 308.00 Mar/16
Slovenia 133.87 Mar/16
Somalia -1281.56 Dec/14
South Africa 2915.79 Mar/16
South Korea 8800.00 Apr/16
South Sudan -3492.00 Dec/14
Spain -795890.00 Mar/16
Sri Lanka -695.00 Jan/16
Sudan -921327.00 Dec/15
Suriname -103.40 Dec/15
Swaziland 1217.38 Dec/15
Sweden 4400.00 Apr/16
Switzerland 2504.00 Apr/16
Syria 9394.50 Dec/10
Taiwan 4802.67 Apr/16
Tajikistan -169.20 Mar/16
Tanzania 19.70 Feb/16
Thailand 721.35 Apr/16
Togo -68.29 Dec/14
Trinidad and Tobago 339.40 Sep/15
Tunisia -1578.70 Apr/16
Turkey -4950.00 Mar/16
Turkmenistan 2431.94 Dec/14
Uganda -164.60 Mar/16
Ukraine -230.30 Mar/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -3830.00 Mar/16
United States -40440.00 Mar/16
Uruguay -123578.00 Mar/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam 280.00 Apr/16
Yemen -2914.30 Dec/13
Zambia -800.90 Mar/16
Zimbabwe -290.99 Dec/14