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

The United Kingdom recorded a trade deficit of 2859 GBP Million in February of 2015. Balance of Trade in the United Kingdom averaged -1282.16 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.

     Forecast  
United Kingdom Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
-2859.00 -1536.00 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 Saturday, April 25, 2015.


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.

The widening of the trade deficit between January and February 2015 mainly reflects a fall in exports of goods to non-EU countries, particularly to the United States. In terms of commodities, the main decreases were in the exports of miscellaneous manufactures, material manufactures and chemical manufactures. 

In February of 2015, the gap on trade in goods and services of £ 2.86 billion reflects a deficit of £10.3 billion on goods, partially offset by an estimated surplus of £7.5 billion on services.

Exports of goods fell by £0.9 billion to £23.2 billion in February 2015, the lowest since September 2010. The decrease reflects a £1.1 billion fall in exports of manufactured goods; in particular miscellaneous manufactures (down £0.4 billion) and material manufactures (down £0.4 billion). Fuel exports partially offset the fall in manufacturing exports with an increase of £0.3 billion from January.

Imports of goods rose by £0.3 billion in February 2015, mainly reflecting a £0.4 billion increase in imports of fuels; specifically oil imports (up £0.4 billion) and a £0.2 billion increase in imports of machinery and transport equipment. These increases were partially offset by a £0.2 billion decrease in imports of material manufactures.

In February 2015, exports to countries within the EU fell by £0.1 billion to £11.0 billion. Decreases in almost all main commodities, particularly manufactured goods (down £0.3 billion) were offset by a £0.4 billion increase in the export of fuels. Imports from EU countries fell by £0.1 billion between January and February. Decreases in material manufactures (down £0.2 billion) and chemical manufactures (down £0.1 billion) were partially offset by increases in fuels and machinery and transport equipment.

Outside the EU, exports fell by £0.9 billion. Miscellaneous manufactures fell by £0.4 billion, material manufactures fell by £0.2 billion and chemical manufactures fell by £0.1 billion. These decreases were accompanied by other, less substantial falls in the remaining main commodities. Imports from countries outside of the EU rose by £0.4 billion, reflecting a £0.2 billion rise in the import of fuels.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
4/9/2015 9:52:49 AM


Recent Releases

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


Calendar GMT Event Actual Previous Consensus Forecast (i)
2015-02-06 09:30 AM
Balance of Trade  Dec
£-2.89B £-1.84B (R) £ -2B
2015-03-12 09:30 AM
Balance of Trade  Jan
£-0.616B £-2.142B (R) £-2.28 B £ -2.3B
2015-04-09 09:30 AM
Balance of Trade  Feb
£-2.859B £-1.54B (R) £ -0.18B
2015-05-08 09:30 AM
Balance of Trade  Mar
£-2.859B £ -2.1B
2015-06-09 09:30 AM
Balance of Trade  Apr
£ -2.1B
2015-07-10 09:30 AM
Balance of Trade  May
£ -2B


United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -2859.00 -1536.00 2946.00 -5397.00 GBP Million [+]
Exports 41314.00 42316.00 46022.00 962.00 GBP Million [+]
Imports 44173.00 43852.00 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 310.25 310.25 588.27 310.25 Tonnes [+]
Crude Oil Production 762.00 729.00 2747.00 1.00 BBL/D/1K [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -1256.00 Feb/15 -1003.00 2251.00 -3884.00 AUD Million [+]
Brazil 458.00 Mar/15 -2841.76 5659.37 -4058.14 USD Million [+]
Canada -984.00 Feb/15 -1475.00 8524.80 -2902.90 CAD Million [+]
China 30.81 Mar/15 606.19 606.19 -319.71 USD Hundred Million [+]
Euro Area 20300.00 Feb/15 7600.00 24009.80 -16638.00 EUR Million [+]
France -3449.00 Feb/15 -3710.00 2674.00 -7086.00 EUR Million [+]
Germany 19174.00 Feb/15 15900.00 23500.00 -535.91 EUR Million [+]
India -11790.00 Mar/15 -6847.00 258.90 -20210.90 USD Million [+]
Indonesia 1131.60 Mar/15 662.70 4641.92 -2329.13 USD Million [+]
Italy 3537.91 Feb/15 232.00 6923.00 -6389.30 EUR Million [+]
Japan 229.26 Mar/15 -425.00 1608.67 -2795.04 JPY Billion [+]
Mexico 558.30 Feb/15 -3248.00 1710.25 -3292.30 USD Million [+]
Netherlands 6009.00 Feb/15 4657.10 6009.00 -907.60 EUR Million [+]
Russia 13600.00 Mar/15 13597.00 20356.00 -185.00 USD Million [+]
South Korea 8380.51 Mar/15 7706.30 8380.51 -4043.45 USD Million [+]
Spain -2037200.00 Feb/15 -2596200.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 2525.00 Mar/15 2316.16 3894.91 -1478.68 CHF million [+]
Turkey -4655.64 Feb/15 -4320.27 24.51 -10453.06 USD Million [+]
United Kingdom -2859.00 Feb/15 -1536.00 2946.00 -5397.00 GBP Million [+]
United States -35444.00 Feb/15 -42676.00 1946.00 -67823.00 USD Million [+]