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

British trade gap narrowed to GDP 4.84 billion in February of 2016 from an upwardly revised GBP 5.2 billion deficit in the previous month as exports recovered and imports were flat. However, the trade in goods deficit was the widest ever for a February month and the trade gap with the European Union increased to a fresh record high of GBP 8.6 billion. 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
Receive the next reported value for United Kingdom Balance of Trade in you Inbox



We will not not share your email with third parties and you can unsubscribe at any time.
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
-4840.00 -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 April of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-09 09:30 AM Dec £-2.71B £-4.03B £ -2.9B
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 £-4.84B £ -4.7B
2016-06-09 08:30 AM Apr £ -4.7B
2016-07-08 08:30 AM May £ -4.9B

UK Trade Deficit Narrows in February


British trade gap narrowed to GDP 4.84 billion in February of 2016 from an upwardly revised GBP 5.2 billion deficit in the previous month as exports recovered and imports were flat. However, the trade in goods deficit was the widest ever for a February month and the trade gap with the European Union increased to a fresh record high of GBP 8.6 billion.

The trade in goods deficit has narrowed by GBP 0.2 billion to GBP 12.0 billion. However, it came worse than market expectations. The trade in services surplus increased by GBP 0.2 billion to GBP 7.1 billion.

Total exports went up 0.9 percent to GBP 42 billion, the highest value in four months. Shipments of goods increased GBP 0.3 billion to GBP 23.2 billion, boosted by chemicals. There was a GBP 0.3 billion increase in organic chemicals and a GBP 0.2 billion increase in pharmaceutical products; anecdotal evidence suggests the largest increases in exports of chemical products were to the US and Germany. In addition, exports of services went up GBP 0.1 billion. 

Total imports wear nearly flat at GBP 46.9 billion. Imports of goods went up by GBP 0.1 billion. There were increases in aircraft (GBP 0.5 billion), mechanical machinery (GBP 0.4 billion) and jewellery (GBP 0.2 billion); these increases were offset by a GBP 1.8 billion fall in imports of unspecified goods as imports of nonmonetary gold in January 2016 were the highest since December 2014. 

Exports to EU countries rose by GBP 0.4 billion, mainly due to a GBP 0.3 billion increase in chemical exports. Imports of goods from EU countries increased by GBP 1.2 billion, to a record GBP 20.0 billion; the largest increases were in aircraft, which increased by GBP 0.4 billion and cars, with an increase of GBP 0.2 billion. There were also increases in purchases of chemicals, electrical machinery, food and live animals, jewellery and oil of GBP 0.1 billion each. These movements resulted in a widening of the trade in goods deficit with EU countries by GBP 0.8 billion, to a record monthly deficit of GBP 8.6 billion in February 2016.

Between the 3 months to November 2015 and the 3 months to February 2016, the total trade deficit (goods and services) widened by GBP 3.8 billion to GBP 13.7 billion, reaching the largest 3 monthly deficit since the 3 months to March 2008.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
4/8/2016 2:15:45 PM

United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -4840.00 -3459.00 2946.00 -5467.00 GBP Million [+]
Exports 42058.00 41681.00 45102.00 962.00 GBP Million [+]
Imports 46898.00 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 98.90 99.70 107.60 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 -266.00 Mar/16
Armenia -82.90 Mar/16
Aruba -491.66 Sep/15
Australia -3410.00 Feb/16
Austria 582.90 Jan/16
Azerbaijan 509849.00 Dec/15
Bahamas -514.90 Dec/15
Bahrain 3441.00 Dec/14
Bangladesh -63.82 Jan/16
Barbados -254822.00 Dec/15
Belarus -248.50 Feb/16
Belgium 1025.00 Feb/16
Belize -138.70 Feb/16
Benin -311.87 Dec/15
Bhutan -26021.60 Dec/15
Bolivia -303.50 Nov/15
Bosnia and Herzegovina -427.38 Mar/16
Botswana 549.30 Feb/16
Brazil 4435.00 Mar/16
Brunei 264.10 Feb/16
Bulgaria -118.70 Feb/16
Burkina Faso -49.00 Sep/14
Burundi -61461.20 Nov/15
Cambodia -746.40 Jan/16
Cameroon -1054.40 Dec/13
Canada -1908.00 Feb/16
Cape Verde -4881.20 Feb/16
Cayman Islands -791.40 Dec/14
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 609.79 Mar/16
China 298.60 Mar/16
Colombia -1.17 Feb/16
Comoros -73294.00 Dec/14
Congo 1001.80 Dec/14
Costa Rica -383.40 Mar/16
Croatia 3996.23 Feb/16
Cuba -7926.60 Dec/14
Cyprus -240094.00 Feb/16
Czech Republic 42159.00 Feb/16
Denmark 2158.20 Feb/16
Djibouti -119840.00 Dec/14
Dominican Republic -688.50 Dec/15
East Timor -33147.37 Feb/16
Ecuador -82072.00 Feb/16
Egypt -3019.00 Feb/16
El Salvador -322.60 Mar/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -149.00 Dec/12
Estonia -139.73 Feb/16
Ethiopia -3441.30 Sep/15
Euro Area 19048.40 Feb/16
European Union 3028.60 Feb/16
Fiji -185801.00 Nov/15
Finland -100.00 Feb/16
France -5177.00 Feb/16
Gabon 3711.95 Dec/13
Gambia -2269.53 Dec/14
Georgia -403.86 Mar/16
Germany 20300.00 Feb/16
Ghana -1226.00 Sep/15
Greece -1651.92 Feb/16
Guatemala -408.80 Jan/16
Guinea -103.83 Jun/13
Guinea Bissau -32.30 Dec/14
Guyana -77.30 Sep/15
Haiti -160.26 Jul/15
Honduras -465.70 Dec/15
Hong Kong -47028.00 Mar/16
Hungary 304200.00 Feb/16
Iceland -8900.00 Mar/16
India -5070.00 Mar/16
Indonesia 490.00 Mar/16
Iran -2405.00 Dec/14
Iraq 38780.80 Dec/14
Ireland 3771700.00 Feb/16
Israel -1177.40 Mar/16
Italy 3856.00 Feb/16
Ivory Coast 890.60 Dec/14
Jamaica -779000.00 Sep/15
Japan 754.99 Mar/16
Jordan -773525.00 Jan/16
Kazakhstan 1187.60 Feb/16
Kenya -58459.44 Jan/16
Kosovo -209942.00 Mar/16
Kuwait 1049.00 Dec/15
Kyrgyzstan -167.59 Dec/15
Laos -488.34 Sep/15
Latvia -139.50 Feb/16
Lebanon -1148.62 Feb/16
Lesotho -2961.47 Dec/15
Liberia -123.50 Oct/15
Libya -17675.60 Dec/14
Liechtenstein 355938.00 Dec/15
Lithuania -96.60 Feb/16
Luxembourg -0.42 Feb/16
Macau -4479038.32 Mar/16
Macedonia -145370.00 Feb/16
Madagascar -30435.00 Dec/15
Malawi -31524.80 Sep/15
Malaysia 7351.55 Feb/16
Maldives -127.20 Jan/16
Mali -100.60 Mar/15
Malta -557987.00 Feb/16
Mauritania -24.89 Dec/15
Mauritius -4607.00 Feb/16
Mexico 155.00 Mar/16
Moldova -148.50 Feb/16
Monaco -22.60 Dec/15
Mongolia 98.70 Mar/16
Montenegro -138515.00 Mar/16
Morocco -16349.00 Mar/16
Mozambique -1274.70 Sep/15
Myanmar -72.20 Sep/15
Namibia -8322.38 Mar/16
Nepal -58541.90 Dec/15
Netherlands 3952.00 Feb/16
New Caledonia -9528.00 Feb/16
New Zealand 117.00 Mar/16
Nicaragua -225.70 Feb/16
Niger -441985.00 Sep/15
Nigeria 26385.50 Dec/15
North Korea -695.83 Dec/14
Norway 9068.13 Mar/16
Oman 329.00 Sep/15
Pakistan -193845.00 Mar/16
Palestine -309.20 Jan/16
Panama -744011.50 Feb/16
Papua New Guinea 4191.00 Sep/15
Paraguay 140697.00 Mar/16
Peru -188.00 Feb/16
Philippines -1104000.00 Feb/16
Poland 341.00 Feb/16
Portugal -713.00 Feb/16
Puerto Rico 2054.10 Dec/15
Qatar 7409.00 Feb/16
Republic of the Congo 4092.35 Dec/10
Romania -611.20 Feb/16
Russia 7353.00 Feb/16
Rwanda -150.29 Dec/15
Sao Tome and Principe -36.44 Dec/15
Saudi Arabia 44465.00 Sep/15
Senegal -103.77 Jan/16
Serbia -406.80 Mar/16
Seychelles -37.18 Feb/16
Sierra Leone -89.75 Mar/15
Singapore 3656.20 Mar/16
Slovakia 459.60 Feb/16
Slovenia 120.06 Feb/16
Somalia -1281.56 Dec/14
South Africa 2915.79 Mar/16
South Korea 9800.00 Mar/16
South Sudan -4987.00 Dec/13
Spain -1761000.00 Feb/16
Sri Lanka -695.00 Jan/16
Sudan -921327.00 Dec/15
Suriname -103.40 Dec/15
Swaziland 517.46 Jun/15
Sweden 3900.00 Mar/16
Switzerland 2163.00 Mar/16
Syria 9394.50 Dec/10
Taiwan 4502.06 Mar/16
Tajikistan -135.50 Feb/16
Tanzania -30.40 Jan/16
Thailand 2966.00 Mar/16
Togo -68.29 Dec/14
Trinidad and Tobago 339.40 Sep/15
Tunisia -1100.60 Mar/16
Turkey -4950.00 Mar/16
Turkmenistan 2431.94 Dec/14
Uganda -120.80 Feb/16
Ukraine -436.00 Feb/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -4840.00 Feb/16
United States -47060.00 Feb/16
Uruguay -123578.00 Mar/16
Uzbekistan 455.00 Dec/15
Venezuela -1093.00 Dec/15
Vietnam 100.00 Apr/16
Yemen -2914.30 Dec/13
Zambia -800.90 Mar/16
Zimbabwe -290.99 Dec/14