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

The trade deficit in the United Kingdom widened sharply by £0.9 billion to £5.1 billion in June 2016 from an upwardly revised £4.2 billion in May. It was the biggest deficit since July last year, as exports increased by 2.4 percent while imports increased at a faster 4 percent to a record high of £48.9 billion. Considering the second quarter of 2016, the total trade deficit widened by £0.4 billion to £12.5 billion from the previous period, mainly due to a slightly larger increase in imports than exports. Balance of Trade in the United Kingdom averaged -1464.26 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
-5084.00 -4227.00 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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-06-09 08:30 AM Apr £-3.294B £-3.532B £ -4B
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 -4495.87
2016-10-07 08:30 AM Aug -4345.03
2016-11-09 09:30 AM Sep -4645.77

UK Trade Deficit Widens to 1-Year High in June


The trade deficit in the United Kingdom widened sharply by £0.9 billion to £5.1 billion in June 2016 from an upwardly revised £4.2 billion in May. It was the biggest deficit since July last year, as exports increased by 2.4 percent while imports increased at a faster 4 percent to a record high of £48.9 billion.

Between May 2016 and June 2016, total exports (goods and services) increased by £1.0 billion (+2.4 percent) to £43.8 billion; this increase comprised a £1.0 billion (4.0 percent) increase in the exports of goods and a £0.1 billion (0.3 percent) increase in the export of services. Total imports (goods and services) increased by £1.9 billion (4.0 percent) to £48.9 billion over the same period, reflecting a £1.8 billion (5.2 percent) rise in imports of goods.

The deficit on trade in goods was £12.4 billion in June 2016, widening by £0.9 billion from May 2016. This widening reflected an increase in imports of goods; imports of oil increased £0.7 billion and increasing in imports of chemicals, aircraft and material manufactures of £0.4 billion each. Over the same period, exports of goods rose reflecting increases in exports of oil of £0.4 billion and chemicals of £0.2 billion.

Between May 2016 and June 2016, exports of goods to EU countries increased by £0.5 billion (4.7 percent) to £12.0 billion, mainly reflecting an increase in exports of oil (£0.5 billion). Imports of goods from EU countries increased by £0.8 billion to a record high of £20.3 billion in June 2016, as imports of machinery and transport equipment rose £0.4 billion.

Between May 2016 and June 2016, exports of goods to countries outside the EU increased by £0.4 billion. Imports of goods from countries outside the EU increased by £1.0 billion, reflecting a £0.7 billion increase in imports of oil from Norway.

Considering the second quarter of 2016, the total trade deficit (goods and services) widened by £0.4 billion to £12.5 billion from the previous period, mainly due to a slightly larger increase in imports than exports. Total imports rose to a record high of £144.0 billion.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/9/2016 10:01:10 AM

United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -5084.00 -4227.00 2946.00 -6058.00 GBP Million [+]
Exports 43844.00 42823.00 44902.00 962.00 GBP Million [+]
Imports 48928.00 47050.00 48928.00 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 100.10 101.30 107.60 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 [+]
Weapons Sales 1214.00 1644.00 6069.00 744.00 USD Million [+]




Last
Afghanistan -7159.00 Dec/15
Albania -28379.00 Jun/16
Algeria -1308.00 Dec/15
Angola 3002.24 Dec/15
Argentina 270.00 Jul/16
Armenia -81.00 Jul/16
Aruba -426.10 Mar/16
Australia -3195.00 Jun/16
Austria -25.00 May/16
Azerbaijan 621706.00 Mar/16
Bahamas -514.90 Dec/15
Bahrain 1513.00 Dec/15
Bangladesh -89.35 May/16
Barbados -254822.00 Dec/15
Belarus -71.50 Jun/16
Belgium 1512.30 Jun/16
Belize -131.21 Jun/16
Benin -164.32 Mar/16
Bhutan -26021.60 Dec/15
Bolivia -136.10 Mar/16
Bosnia and Herzegovina -655560.43 Jun/16
Botswana 4100.60 May/16
Brazil 4578.00 Jul/16
Brunei 166.50 Jun/16
Bulgaria -75.50 Jun/16
Burkina Faso -49.00 Sep/14
Burundi -76937.10 Mar/16
Cambodia -109.60 Feb/16
Cameroon -1054.40 Dec/13
Canada -3632.40 Jun/16
Cape Verde -5167.30 Jun/16
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile -90.13 Jul/16
China 523.08 Jul/16
Colombia -0.97 Jun/16
Comoros -73294.00 Dec/14
Congo 1001.80 Dec/14
Costa Rica -451.50 Jul/16
Croatia -4704.00 Jun/16
Cuba -9578.00 Dec/15
Cyprus -318121.00 Jun/16
Czech Republic 50618.00 Jun/16
Denmark 7481.80 Jun/16
Djibouti -119840.00 Dec/14
Dominican Republic -631.90 Mar/16
East Timor -38853.09 May/16
Ecuador 235011.00 Jun/16
Egypt -2866.00 May/16
El Salvador -411.97 Jun/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -149.08 Jun/16
Ethiopia -3557.70 Dec/15
Euro Area 29248.20 Jun/16
European Union 7650.10 Jun/16
Fiji -84048.00 Feb/16
Finland 325.00 Jun/16
France -3440.00 Jun/16
Gabon 3711.95 Dec/13
Gambia -2269.53 Dec/14
Georgia -494.19 Jul/16
Germany 24869.00 Jun/16
Ghana -773.70 Mar/16
Greece -1463.00 Jun/16
Guatemala -539.70 Jun/16
Guinea -103.83 Jun/13
Guinea Bissau -23.80 Dec/14
Guyana -4.40 Mar/16
Haiti -208.97 Apr/16
Honduras -361.50 May/16
Hong Kong -33307.00 Jul/16
Hungary 355000.00 Jun/16
Iceland -9600.00 Jul/16
India -7761.40 Jul/16
Indonesia 598.30 Jul/16
Iran 4258.00 Dec/15
Iraq 38780.80 Dec/14
Ireland 4502100.00 Jun/16
Israel -1600.20 Jul/16
Italy 4662.00 Jun/16
Ivory Coast 890.60 Dec/14
Jamaica -761100.00 Dec/15
Japan 513.51 Jul/16
Jordan -702809.00 May/16
Kazakhstan 1055.00 Jun/16
Kenya -79107.00 Jun/16
Kosovo -216894.00 Jun/16
Kuwait 402.00 Mar/16
Kyrgyzstan -222.60 May/16
Laos -594.89 Dec/15
Latvia -169.00 Jun/16
Lebanon -1258.95 Jun/16
Lesotho -3543.23 Mar/16
Liberia -79.80 Apr/16
Libya -17675.60 Dec/14
Liechtenstein 326579.00 Jun/16
Lithuania -233.30 Jun/16
Luxembourg -0.44 Jun/16
Macau -4888852.71 Jun/16
Macedonia -183852.00 Jun/16
Madagascar -306742.00 Jun/16
Malawi -31524.80 Sep/15
Malaysia 5517.62 Jun/16
Maldives -165.70 Apr/16
Mali -100.60 Mar/15
Malta -241648.00 Jun/16
Mauritania -24.89 Dec/15
Mauritius -6215.00 Jun/16
Mexico -523.64 Jun/16
Moldova -167.30 Jun/16
Monaco 7.80 Mar/16
Mongolia 15.20 Jul/16
Montenegro -175013.00 Jul/16
Morocco -16665.00 Jun/16
Mozambique -1754.40 Dec/15
Myanmar -639.40 Dec/15
Namibia -6141.52 Mar/16
Nepal -77662.70 Mar/16
Netherlands 4902.00 Jun/16
New Caledonia -9890.65 Jun/16
New Zealand -433.26 Jul/16
Nicaragua -195.00 May/16
Niger -441985.00 Sep/15
Nigeria -171309.90 Mar/16
North Korea -476.67 Dec/15
Norway 13951.12 Jul/16
Oman -45.20 Dec/15
Pakistan -217594.00 Jul/16
Palestine -408.60 May/16
Panama -939006.70 Jun/16
Papua New Guinea 3957.00 Dec/15
Paraguay 99931.00 Jul/16
Peru -277.50 Jun/16
Philippines -2098000.00 Jun/16
Poland 404.00 Jun/16
Portugal -923.50 Jun/16
Puerto Rico 2091.50 Apr/16
Qatar 8329.00 Jun/16
Republic of the Congo 4092.35 Dec/10
Romania -695.80 Jun/16
Russia 8114.00 Jun/16
Rwanda -142.60 May/16
Sao Tome and Principe -24.59 Mar/16
Saudi Arabia 16295.00 Mar/16
Senegal -151.57 Jun/16
Serbia -464.50 Jun/16
Seychelles -45.27 Jun/16
Sierra Leone -33.70 Dec/15
Singapore 6519.51 Jul/16
Slovakia 515.00 Jun/16
Slovenia 174.81 Jun/16
Somalia -1473.48 Dec/15
South Africa 12530.50 Jun/16
South Korea 7793.00 Jul/16
South Sudan -104.70 Dec/15
Spain -1357000.00 Jun/16
Sri Lanka -811.00 Jun/16
Sudan -489010.00 Mar/16
Suriname -23.00 Mar/16
Swaziland 1217.38 Dec/15
Sweden 1800.00 Jun/16
Switzerland 2930.41 Jul/16
Syria 9394.50 Dec/10
Taiwan 3608.26 Jul/16
Tajikistan -168.70 Jun/16
Tanzania -223.30 Apr/16
Thailand 1970.00 Jun/16
Togo -68.29 Dec/14
Trinidad and Tobago 258.50 Dec/15
Tunisia -822.00 Jul/16
Turkey -6559.00 Jun/16
Turkmenistan 2228.22 Dec/14
Uganda -199.50 Jun/16
Ukraine 11.40 Jun/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -5084.00 Jun/16
United States -44510.00 Jun/16
Uruguay 285352.00 Jun/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam 564.00 Jul/16
Yemen -2914.30 Dec/13
Zambia -1905.90 Jun/16
Zimbabwe -322.86 Mar/16