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

The UK’s deficit on trade in goods and services decreased slightly by £0.1 billion to £1.97 billion in January 2017 from a downwardly revised £2.03 billion in December. Exports advanced by £0.4 billion to an all-time high of £49.4 billion, boosted by higher sales of machinery and transport equipment, mainly electrical machinery and cars, and chemicals; and imports increased by £0.3 billion also to a record £51.4 billion, as purchases of oil and chemicals rose the most. Balance of Trade in the United Kingdom averaged -1451.90 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
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
Calendar GMT Reference Actual Previous Consensus Forecast (i)
2017-01-11 09:30 AM Nov £-4.17B £-1.55B
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
2017-05-11 08:30 AM Mar
2017-06-09 08:30 AM Apr




UK Trade Deficit Narrows Slightly In January


The UK’s deficit on trade in goods and services decreased slightly by £0.1 billion to £1.97 billion in January 2017 from a downwardly revised £2.03 billion in December. Exports advanced by £0.4 billion to an all-time high of £49.4 billion, boosted by higher sales of machinery and transport equipment, mainly electrical machinery and cars, and chemicals; and imports increased by £0.3 billion also to a record £51.4 billion, as purchases of oil and chemicals rose the most.

Exports of goods and services increased by £0.4 billion to an all-time high of £49.4 billion in January from £49.0 billion in December, boosted by higher sales of machinery and transport equipment, mainly electrical machinery and cars, and chemicals. Exports rose the most to France (8 percent), the Netherlands (7.1 percent), the US (7 percent), China (5.1 percent) and Germany (4.9 percent). By contrast, sales fell to Spain (-20.3 percent), Switzerland (-10.3 percent) and Canada (-8.8 percent).

Imports of goods and services rose by £0.3 billion also to a record £51.4 billion from £51.0 billion in the previous month, as purchases of oil and chemicals rose the most. Imports rose from Norway (52.9 percent), the Netherlands (10 percent), Spain (3.5 percent) and Germany (2.5 percent); but fell from Japan (-18.2 percent), France (-12.5 percent), the US (-7.4 percent), Switzerland (-5.4 percent) and China (-1.1 percent).

The trade in goods deficit narrowed by £0.1 billion to £10.8 billion between December 2016 and January 2017. In the same period, imports of oil increased from the non-EU countries, specifically Norway, which restricted the narrowing of the deficit. However, the erratics series had less impact on the trade in goods deficit in January 2017 than seen in previous months, with both exports and imports of these volatile commodities decreasing. When removing oil and the erratic commodities (ships, aircraft, precious stones, silver and non-monetary gold) the deficit narrowed by £0.8 billion, to £11.2 billion on the month.

On the price front, export prices increased by 2.1 percent and import prices increased by 2.5 percent. The value of sterling was 1.7 percent lower in January 2017 compared with the December 2016 average, following appreciation in November and December 2016. However, it remains 13.1 percent lower when compared with January 2016.

Between the 3 months to October 2016 and the 3 months to January 2017, the total trade deficit (goods and services) narrowed by £4.7 billion to £6.4 billion. The narrowing of the deficit reflected a greater rise in exports (6.3 percent) than the rise in imports (2.7 percent). Exports of services increased by 1.7 percent in the 3 months to January 2017; this led to an increase in the trade in services surplus for that period. Exports of unspecified goods (including non-monetary gold), oil, machinery and transport equipment (mainly electrical machinery, aircraft and cars) and chemicals were the largest contributors to the 3-monthly growth in exports of goods for the same period. The deficit of trade in goods, excluding oil and erratics, widened by £2.3 billion to £34.7 billion.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/10/2017 10:12:09 AM



United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -1966.00 -2026.00 2946.00 -6058.00 GBP Million [+]
Exports 49404.00 49022.00 49404.00 962.00 GBP Million [+]
Imports 51370.00 51048.00 51370.00 1031.00 GBP Million [+]
Current Account -25494.00 -22079.00 2657.00 -26298.00 GBP Million [+]
Current Account to GDP -5.20 -5.10 2.60 -5.20 percent [+]
External Debt 6176450.00 5955263.00 6428718.00 565439.00 GBP Million [+]
Terms of Trade 100.60 101.10 107.60 80.10 Index Points [+]
Capital Flows 22430.00 22018.00 35319.00 -10498.00 GBP Million [+]
Foreign Direct Investment 25292.00 28994.00 82539.00 -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 1760.00 1700.00 2669.00 126.00 GBP Million [+]
Tourist Arrivals 2860.00 3100.00 3800.00 540.00 Thousand [+]
Weapons Sales 1214.00 1644.00 6069.00 744.00 USD Million [+]



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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-1966.00 -2026.00 2946.00 -6058.00 1955 - 2017 GBP Million Monthly



Last
Afghanistan -7159.00 Dec/15
Albania -23780.30 Feb/17
Algeria -1308.00 Dec/15
Angola 4470.03 Jun/16
Argentina -106.00 Jan/17
Armenia -115.20 Feb/17
Aruba -465.10 Sep/16
Australia 1302.00 Jan/17
Austria -639.00 Dec/16
Azerbaijan 981353.00 Sep/16
Bahamas -557.30 Dec/16
Bahrain 312.40 Dec/15
Bangladesh -90.80 Dec/16
Barbados -213020.00 Nov/16
Belarus -493.30 Dec/16
Belgium 208.30 Jan/17
Belize -106.50 Jan/17
Benin -379.80 Dec/16
Bhutan -35828.70 Dec/16
Bolivia -265.44 Dec/16
Bosnia and Herzegovina -564058.59 Jan/17
Botswana -24.00 Dec/16
Brazil 4560.00 Feb/17
Brunei 369.10 Jan/17
Bulgaria -271.70 Jan/17
Burkina Faso -86.40 Mar/16
Burundi -80745.50 Nov/16
Cambodia -994.90 Nov/16
Cameroon -1189.42 Dec/14
Canada 806.90 Jan/17
Cape Verde -6193.00 Jan/17
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 236.10 Feb/17
China -91.50 Feb/17
Colombia -0.92 Jan/17
Comoros -73203.00 Dec/16
Congo 1001.80 Dec/14
Costa Rica -368.50 Feb/17
Croatia -3332.68 Jan/17
Cuba -9578.00 Dec/15
Cyprus -317903.00 Jan/17
Czech Republic 48458.00 Jan/17
Denmark 4999.40 Jan/17
Djibouti -168260.00 Dec/15
Dominican Republic -589.40 Jun/16
East Timor -9404.27 Dec/16
Ecuador -4135.00 Jan/17
Egypt -2379.00 Dec/16
El Salvador -412.80 Jan/17
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -430.33 Jan/17
Ethiopia -3565.10 Sep/16
Euro Area -593.40 Jan/17
European Union -16240.40 Jan/17
Fiji -204403.00 Sep/16
Finland -455.00 Jan/17
France -7940.00 Jan/17
Gabon 3711.95 Dec/13
Gambia -2344.80 Jun/16
Georgia -411.80 Feb/17
Germany 14800.00 Jan/17
Ghana -452.40 Sep/16
Greece -2336.70 Jan/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 -12345.00 Jan/17
Hungary 203000.00 Jan/17
Iceland -10900.00 Feb/17
India -8896.30 Feb/17
Indonesia 1318.90 Feb/17
Iran 4127.00 Sep/16
Iraq 4397.00 Dec/15
Ireland 5745100.00 Jan/17
Israel -702.90 Feb/17
Italy -573.67 Jan/17
Ivory Coast 1256.00 Dec/15
Jamaica -723200.00 Jun/16
Japan 813.40 Feb/17
Jordan -709700.00 Jan/17
Kazakhstan 1289.20 Jan/17
Kenya -76470.00 Dec/16
Kosovo -125400.00 Jan/17
Kuwait 1693.00 Dec/16
Kyrgyzstan -114.40 Dec/16
Laos -339.15 Jun/16
Latvia -175.40 Jan/17
Lebanon -1372.78 Jan/17
Lesotho -2305.61 Sep/16
Liberia -82.20 Sep/16
Libya -7687.60 Dec/15
Liechtenstein 343493.00 Dec/16
Lithuania -214.10 Jan/17
Luxembourg -0.37 Dec/16
Macau -5586600.00 Jan/17
Macedonia -119844.00 Jan/17
Madagascar 20810.00 Dec/16
Malawi -53950.00 Mar/16
Malaysia 4711.86 Jan/17
Maldives -171.90 Nov/16
Mali -226.10 Sep/15
Malta -366567.00 Jan/17
Mauritania -79.64 Mar/16
Mauritius -8644.00 Jan/17
Mexico -3294.00 Jan/17
Moldova -127.30 Jan/17
Monaco -165.20 Sep/16
Mongolia 183.00 Feb/17
Montenegro -70238.00 Jan/17
Morocco -16689.00 Dec/16
Mozambique -434.30 Sep/16
Myanmar -303.20 May/16
Namibia -6654.37 Sep/16
Nepal -80884.00 Jun/16
Netherlands 4582.00 Jan/17
New Caledonia -7307.00 Oct/16
New Zealand -284.72 Jan/17
Nicaragua -268.30 Dec/16
Niger -108402.00 Sep/16
Nigeria 227044.30 Dec/16
North Korea -476.67 Dec/15
Norway 23539.00 Feb/17
Oman 205.90 Nov/16
Pakistan -293929.00 Feb/17
Palestine -343.00 Jan/17
Panama -894143.61 Jan/17
Papua New Guinea 4593.00 Sep/16
Paraguay 100105.00 Feb/17
Peru 150.00 Jan/17
Philippines -2313784.93 Jan/17
Poland 225.00 Jan/17
Portugal -940.50 Jan/17
Puerto Rico 2830.80 Dec/16
Qatar 10981.00 Jan/17
Republic of the Congo 4092.35 Dec/10
Romania -602.20 Jan/17
Russia 11445.00 Jan/17
Rwanda -116.57 Nov/16
Sao Tome and Principe -27.04 Dec/16
Saudi Arabia 73133.00 Sep/16
Senegal -149.50 Jan/17
Serbia -319.10 Jan/17
Seychelles -39.60 Jan/17
Sierra Leone -52.89 Jun/16
Singapore 7752.90 Feb/17
Slovakia 152.00 Jan/17
Slovenia 45.30 Jan/17
Somalia -1473.48 Dec/15
South Africa -10811.59 Jan/17
South Korea 7220.00 Feb/17
South Sudan -104.70 Dec/15
Spain -3134000.00 Jan/17
Sri Lanka -910.00 Jan/17
Sudan -477522.00 Dec/16
Suriname 154.40 Dec/16
Swaziland -320.72 Jun/16
Sweden 1500.00 Jan/17
Switzerland 3105.00 Feb/17
Syria 9394.50 Dec/10
Taiwan 3360.00 Feb/17
Tajikistan -117.70 Jan/17
Tanzania -26.00 Nov/16
Thailand 1610.00 Feb/17
Togo -74.03 Jun/16
Trinidad and Tobago -364.10 Jun/16
Tunisia 1288.80 Feb/17
Turkey -4308.50 Jan/17
Turkmenistan 2181.97 Dec/15
Uganda -192.30 Jan/17
Ukraine -86.70 Jan/17
United Arab Emirates 328300.00 Dec/15
United Kingdom -1966.00 Jan/17
United States -48492.00 Jan/17
Uruguay -36256.00 Jan/17
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam -2000.00 Feb/17
Yemen -2914.30 Dec/13
Zambia -998.80 Sep/16
Zimbabwe -241.27 Aug/16