United Kingdom Balance of Trade 1955-2015 | Data | Chart | Calendar

The United Kingdom recorded a trade deficit of 1202 GBP Million in April of 2015. Balance of Trade in the United Kingdom averaged -1290.29 GBP Million from 1955 until 2015, reaching an all time high of 2946 GBP Million in March of 1981 and a record low of -5397 GBP Million in March of 2008. Balance of Trade in the United Kingdom is reported by the Office for National Statistics.

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United Kingdom Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
-1202.00 -3093.00 2946.00 -5397.00 1955 - 2015 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. Content for - United Kingdom Balance of Trade - was last refreshed on Tuesday, June 30, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-04-09 09:30 AM Feb £-2.859B £-1.54B (R) £ -0.18B
2015-05-08 09:30 AM Mar £-2.817B £-3.318B (R) £ -2.95B £ -2.1B
2015-06-09 09:30 AM Apr £-1.202B £-3.093B (R) £ -2.3B
2015-07-10 09:30 AM May £-1.202B £ -2B
2015-08-07 09:30 AM Jun £ -1.9B
2015-09-09 09:30 AM Jul £ -1.9B


UK Trade Deficit at 1-Year Low


British trade gap decreased to £1.2 billion in April from an upwardly revised £3 billion in the previous month. It is the lowest figure since March last year as exports posted the biggest gain in seven months while imports shrank.

The deficit on trade of goods and services reflects a gap of £8.6 billion on goods, partially offset by an estimated surplus of £7.4 billion on services.

In detail, exports of goods rose 4.8 percent to £24.5 billion in April 2015. The increase mainly reflects a £0.4 billion rise in exports of chemicals; in particular, a rise in exports of organic compounds, which anecdotal evidence suggests were exported to the USA. Exports of fuels also increased in April 2015 (up £0.2 billion from March). Almost two-thirds of this increase was due to fuels other than oil.

Imports of goods fell 4.8 percent mainly due to miscellaneous manufactures. The overall decrease within miscellaneous manufactures was an accumulation of many low level commodities recording lower imports in April. The most significant of which being works of art and furniture. Imports of fuels fell by £0.4 billion between March 2015 and April 2015; specifically oil, which fell £0.2 billion.

In April 2015, exports to countries outside the EU rose by £0.6 billion. Chemical exports rose by £0.3 billion (primarily due to exports to the USA) and exports of machinery and transport equipment rose by £0.2 billion. Imports from EU countries fell by £0.8 billion between March 2015 and April 2015 as imports of chemicals, materials and miscellaneous manufactures each decreased by £0.2 billion.

Outside the EU, imports fell by £0.7 billion, mainly reflecting falls in miscellaneous manufactures (down £0.5 billion) and fuels (down £0.3 billion). The fall in fuel imports was primarily due to oil as imports fell by £0.2 billion in April 2015.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
6/9/2015 9:48:15 AM


Recent Releases

UK Trade Deficit Narrows in March
British trade gap decreased slightly to £2.8 billion in March from a revised £3.3 billion in the previous month as exports to countries outside the European Union rose and imports of aircraft and ships declined.
Published on 2015-05-08

UK Trade Deficit at 5-Month High
British trade gap increased to £2859 million in February from a revised £1536 million in the previous month as exports fell to a six-month low due to weaker sales to the United States.
Published on 2015-04-09

UK Trade Deficit Narrows to 1-1/2-Year Low
British trade gap decreased to £616 million in January from a revised £2142 million in the previous month. It is the lowest shortfall since June of 2013 due to a sharp drop in oil imports and higher exports of services.
Published on 2015-03-12

UK Trade Deficit Widens 57% in December
British trade gap increased to £2.9 billion in December of 2014 from a revised £1.8 billion in the previous month, driven by a surge in oil imports. In 2014, the goods deficit was £120 billion, the highest since records began in 1998.
Published on 2015-02-06


United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -1202.00 -3093.00 2946.00 -5397.00 GBP Million [+]
Exports 42564.00 42073.00 46022.00 962.00 GBP Million [+]
Imports 43766.00 45166.00 47036.00 1031.00 GBP Million [+]
Current Account -25302.00 -27664.00 2693.00 -27664.00 GBP Million [+]
Current Account to GDP -5.50 -4.50 1.90 -5.50 percent [+]
External Debt -354675.00 -450721.00 88871.00 -450721.00 GBP Million [+]
Terms of Trade 99.30 98.60 107.60 80.10 Index Points [+]
Foreign Direct Investment 11944.00 16325.00 82671.00 -44438.00 GBP Million [+]
Gold Reserves 310.29 310.25 588.27 310.25 Tonnes [+]
Crude Oil Production 776.00 850.00 2747.00 1.00 BBL/D/1K [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -3888.00 Apr/15 -1231.00 2254.00 -3888.00 AUD Million [+]
Brazil 2761.00 May/15 491.00 5659.37 -4058.14 USD Million [+]
Canada -2974.00 Apr/15 -3853.00 8524.80 -3853.00 CAD Million [+]
China 594.88 May/15 341.34 606.19 -319.71 USD Hundred Million [+]
Euro Area 24941.50 Apr/15 22974.80 24941.50 -16748.10 EUR Million [+]
France -3008.00 Apr/15 -4410.00 2674.00 -7086.00 EUR Million [+]
Germany 22100.00 Apr/15 23100.00 23500.00 -535.91 EUR Million [+]
India -10406.20 May/15 -10990.00 258.90 -20210.90 USD Million [+]
Indonesia 955.00 May/15 477.40 4641.92 -2329.13 USD Million [+]
Italy 3736.00 Apr/15 4011.00 6923.00 -6389.30 EUR Million [+]
Japan -216.00 May/15 -53.44 1608.67 -2795.04 JPY Billion [+]
Mexico -1017.00 May/15 -85.30 1710.25 -3292.30 USD Million [+]
Netherlands 5017.00 Apr/15 5440.00 6329.20 -907.60 EUR Million [+]
Russia 17142.00 May/15 15037.00 20356.00 -185.00 USD Million [+]
South Korea 6320.00 May/15 8488.00 8488.00 -4043.45 USD Million [+]
Spain -2253100.00 Apr/15 -890600.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3433.00 May/15 2658.00 3894.91 -1478.68 CHF million [+]
Turkey -4966.00 Apr/15 -6153.67 24.51 -10453.06 USD Million [+]
United Kingdom -1202.00 Apr/15 -3093.00 2946.00 -5397.00 GBP Million [+]
United States -40879.00 Apr/15 -50566.00 1946.00 -67823.00 USD Million [+]