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

The trade deficit in the United Kingdom narrowed by £1.1 billion to £4.5 billion in July 2016 from an upwardly revised £5.6 billion in June, aided by a weaker pound in the wake of the UK’s vote to leave the EU. Exports increased by 1.9 percent, boosted by a 3.4 percent rise in the export of goods, while imports declined by 0.5 percent. Between the 3 months to April 2016 and the 3 months to July 2016, the total trade deficit widened by £5.1 billion to £14.1 billion, the widest deficit since the 3 months to December 2013. Balance of Trade in the United Kingdom averaged -1465.26 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. 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
-4502.00 -5573.00 2946.00 -6058.00 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 September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-07-08 08:30 AM May £-2.263B £-1.950B £ -3.8B
2016-08-09 08:30 AM Jun £-5.1B £-4.2B £ -2.7B
2016-09-09 08:30 AM Jul £-4.5B £-5.6B £ -4.5B
2016-10-07 08:30 AM Aug £-4.5B £ -3.1B
2016-11-09 09:30 AM Sep £ -1.7B
2016-12-09 09:30 AM Oct £ -3.4B

UK Trade Deficit Narrows as Exports Climb 1.9% MoM


The trade deficit in the United Kingdom narrowed by £1.1 billion to £4.5 billion in July 2016 from an upwardly revised £5.6 billion in June. Exports increased by 1.9 percent, boosted by a 3.4 percent rise in the export of goods, while imports declined by 0.5 percent. Between the 3 months to April 2016 and the 3 months to July 2016, the total trade deficit widened by £5.1 billion to £14.1 billion, the widest deficit since the 3 months to December 2013.

Between June 2016 and July 2016, total exports (goods and services) increased by £0.8 billion, or 1.9 percent, to £43.8 billion; this increase reflected a £0.8 billion, or 3.4 percent, increase in the export of goods. Total imports (goods and services) decreased by £0.3 billion, or 0.5 percent, to £48.3 billion over the same period, reflecting a £0.3 billion, or 0.9 percent, fall in imports of goods.

The deficit on trade in goods was £11.8 billion in July 2016, narrowing by £1.2 billion from June 2016. This narrowing mainly reflects an increase in exports. Exports of ships increased by £0.5 billion and exports of fuels increased by £0.5 billion: specifically oil which increased by £0.4 billion. There were smaller increases in exports of food, beverages and tobacco (combined), miscellaneous manufactures and machinery of £0.1 billion each. These increases were offset by a £0.5 billion decrease in the exports of aircraft. Over the same period imports of goods fell; with a decrease in the imports of cars of £0.3 billion.

Between June 2016 and July 2016, exports of goods to EU countries increased by £1.0 billion, or 9.1 percent, to £12.5 billion, mainly reflecting an increase in exports of oil (£0.5 billion) and miscellaneous manufactures (£0.3 billion), of which jewellery increased by £0.2 billion to a record high. Imports of goods from EU countries increased by £0.4 billion to £20.1 billion in July 2016; there were increases in oil, chemicals, material manufactures and miscellaneous manufactures (£0.1 billion each). These rises were offset by a fall in imports of cars and aircraft from the EU (£0.2 billion each).

Between June 2016 and July 2016, exports of goods to countries outside the EU decreased by £0.2 billion, reflecting a fall in aircraft (£0.6 billion). Imports of goods from countries outside the EU decreased by £0.7 billion, reflecting falls in unspecified goods (£0.4 billion) and oil (£0.2 billion). These falls were offset by an increase in imports of aircraft (£0.4 billion).

Between the 3 months to April 2016 and the 3 months to July 2016, the total trade deficit (goods and services) widened by £5.1 billion to £14.1 billion, the widest deficit since the 3 months to December 2013. The trade position reflects exports minus imports; the widening of the deficit reflected both a fall in exports (1.7%) and a rise in imports (2.1%). Imports of goods and services reached a record high of £143.6 billion in the 3 months to July 2016.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/9/2016 9:43:42 AM

United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -4502.00 -5573.00 2946.00 -6058.00 GBP Million [+]
Exports 43777.00 42972.00 44992.00 962.00 GBP Million [+]
Imports 48279.00 48545.00 48545.00 1031.00 GBP Million [+]
Current Account -32593.00 -33963.00 2693.00 -33963.00 GBP Million [+]
Current Account to GDP -5.20 -5.10 2.60 -5.20 percent [+]
External Debt -127794.00 -65938.00 88871.00 -450721.00 GBP Million [+]
Terms of Trade 100.40 100.10 107.60 80.10 Index Points [+]
Capital Flows 34134.00 41438.00 41438.00 -10498.00 GBP Million [+]
Foreign Direct Investment 38349.00 9288.00 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 [+]
Tourism Revenues 2530.00 2020.00 2669.00 126.00 GBP Million [+]
Tourist Arrivals 3800.00 3230.00 3800.00 540.00 Thousand [+]
Weapons Sales 1214.00 1644.00 6069.00 744.00 USD Million [+]




Last
Afghanistan -7159.00 Dec/15
Albania -29464.00 Aug/16
Algeria -1308.00 Dec/15
Angola 3002.24 Dec/15
Argentina 705.00 Aug/16
Armenia -134.20 Aug/16
Aruba -423.80 Jun/16
Australia -2410.00 Jul/16
Austria 130.00 Jun/16
Azerbaijan 621706.00 Mar/16
Bahamas -459.80 Mar/16
Bahrain 1513.00 Dec/15
Bangladesh -62.34 Jun/16
Barbados -254822.00 Dec/15
Belarus 32.40 Jul/16
Belgium 2544.10 Jul/16
Belize -132.80 Jul/16
Benin -191.61 Jun/16
Bhutan -26021.60 Dec/15
Bolivia -136.20 Apr/16
Bosnia and Herzegovina -526211.72 Jul/16
Botswana -175.90 Jul/16
Brazil 4140.00 Aug/16
Brunei 417.80 Jul/16
Bulgaria -29.90 Jul/16
Burkina Faso -49.00 Sep/14
Burundi -89358.20 Jun/16
Cambodia -1748.30 May/16
Cameroon -1054.40 Dec/13
Canada -2487.90 Jul/16
Cape Verde -4499.80 Jul/16
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile -274.00 Aug/16
China 520.49 Aug/16
Colombia -1.16 Jul/16
Comoros -73294.00 Dec/14
Congo 1001.80 Dec/14
Costa Rica -560.60 Aug/16
Croatia -4059.88 Jul/16
Cuba -9578.00 Dec/15
Cyprus -304347.00 Jul/16
Czech Republic 24445.00 Jul/16
Denmark 8796.60 Jul/16
Djibouti -168260.00 Dec/15
Dominican Republic -631.90 Mar/16
East Timor -39175.91 Jun/16
Ecuador 204425.00 Jul/16
Egypt -3518.00 Jul/16
El Salvador -339.98 Jul/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -164.77 Jul/16
Ethiopia -3601.70 Mar/16
Euro Area 25276.10 Jul/16
European Union 3763.70 Jul/16
Fiji -112192.00 Apr/16
Finland -245.00 Jul/16
France -4505.00 Jul/16
Gabon 3711.95 Dec/13
Gambia -2269.53 Dec/14
Georgia -493.40 Aug/16
Germany 19500.00 Jul/16
Ghana -712.40 Jun/16
Greece -1344.10 Jul/16
Guatemala -452.00 Jul/16
Guinea -308.73 Jun/16
Guinea Bissau -23.80 Dec/14
Guyana -13.70 Jun/16
Haiti -229.96 Jun/16
Honduras -403.60 Jun/16
Hong Kong -32096.00 Aug/16
Hungary 208000.00 Jul/16
Iceland -12700.00 Aug/16
India -7674.14 Aug/16
Indonesia 293.60 Aug/16
Iran 4258.00 Dec/15
Iraq 4397.00 Dec/15
Ireland 3526700.00 Jul/16
Israel -1899.30 Aug/16
Italy 7794.95 Jul/16
Ivory Coast 890.60 Dec/14
Jamaica -680800.00 Mar/16
Japan -18.71 Aug/16
Jordan -658173.00 Jun/16
Kazakhstan 1289.60 Jul/16
Kenya -79107.00 Jun/16
Kosovo -210544.00 Jul/16
Kuwait 402.00 Mar/16
Kyrgyzstan -291.40 Jun/16
Laos -594.89 Dec/15
Latvia -182.90 Jul/16
Lebanon -1258.95 Jun/16
Lesotho -3543.23 Mar/16
Liberia -99.90 May/16
Libya -17675.60 Dec/14
Liechtenstein 326579.00 Jun/16
Lithuania -178.60 Jul/16
Luxembourg -0.42 Jul/16
Macau -4867968.77 Jul/16
Macedonia -131493.00 Jul/16
Madagascar -306742.00 Jun/16
Malawi -31524.80 Sep/15
Malaysia 1907.37 Jul/16
Maldives -161.70 Jun/16
Mali -100.60 Mar/15
Malta -149432.00 Jul/16
Mauritania -79.64 Mar/16
Mauritius -8160.00 Jul/16
Mexico -1913.24 Aug/16
Moldova -148.40 Jul/16
Monaco -104.50 Jun/16
Mongolia 110.00 Aug/16
Montenegro -168082.00 Aug/16
Morocco -17306.00 Jul/16
Mozambique -1754.40 Dec/15
Myanmar -639.40 Dec/15
Namibia -6141.52 Mar/16
Nepal -77662.70 Mar/16
Netherlands 4821.00 Jul/16
New Caledonia -9890.65 Jun/16
New Zealand -1265.00 Aug/16
Nicaragua -223.90 Jun/16
Niger -286709.90 Mar/16
Nigeria -29398.00 Jun/16
North Korea -476.67 Dec/15
Norway 6763.00 Aug/16
Oman -45.20 Dec/15
Pakistan -279639.00 Aug/16
Palestine -310.20 Jul/16
Panama -918416.00 Jul/16
Papua New Guinea 3957.00 Dec/15
Paraguay -154825.00 Aug/17
Peru 484.00 Jul/16
Philippines -2053160.00 Jul/16
Poland -313.00 Jul/16
Portugal -557.44 Jul/16
Puerto Rico 2982.40 Jun/16
Qatar 6694.00 Jul/16
Republic of the Congo 4092.35 Dec/10
Romania -642.90 Jul/16
Russia 6490.00 Jul/16
Rwanda -142.60 May/16
Sao Tome and Principe -27.28 Jun/16
Saudi Arabia 16295.00 Mar/16
Senegal -159.34 Jul/16
Serbia -300.30 Jul/16
Seychelles -40.31 Jul/16
Sierra Leone -52.89 Jun/16
Singapore 5592.00 Aug/16
Slovakia 60.00 Jul/16
Slovenia 99.78 Jul/16
Somalia -1473.48 Dec/15
South Africa 5223.30 Jul/16
South Korea 5300.00 Aug/16
South Sudan -104.70 Dec/15
Spain -557800.00 Jul/16
Sri Lanka -542.00 Jul/16
Sudan -424613.00 Jun/16
Suriname 32.40 Jun/16
Swaziland 1217.38 Dec/15
Sweden -10300.00 Aug/16
Switzerland 3024.63 Aug/16
Syria 9394.50 Dec/10
Taiwan 3984.83 Aug/16
Tajikistan -142.90 Jul/16
Tanzania -207.80 Jun/16
Thailand 2130.00 Aug/16
Togo -68.29 Dec/14
Trinidad and Tobago 258.50 Dec/15
Tunisia -1397.20 Aug/16
Turkey -4787.97 Jul/16
Turkmenistan 2181.97 Dec/15
Uganda -175.50 Jul/16
Ukraine -264.80 Aug/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -4502.00 Jul/16
United States -39474.00 Jul/16
Uruguay 207156.00 Jul/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam 573.00 Aug/16
Yemen -2914.30 Dec/13
Zambia -473.90 Jul/16
Zimbabwe -322.86 Mar/16