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

British trade gap narrowed to GBP 2.7 billion in December of 2015 from an upwardly revised GBP 4.03 billion shortfall in November. It is the lowest trade deficit in three months, due to a drop in imports of unspecified goods while falling oil prices brought oil purchases down to its lowest since February of 2009. Balance of Trade in the United Kingdom averaged -1391.07 GBP Million from 1955 until 2015, reaching an all time high of 2946 GBP Million in March of 1981 and a record low of -5467 GBP Million in December of 2014. 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
-2709.00 -4031.00 2946.00 -5467.00 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. United Kingdom Balance of Trade - actual data, historical chart and calendar of releases - was last updated on February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-12-10 09:30 AM Oct £-4.14B £-1.07B £ -1.7B
2016-01-08 09:30 AM Nov £-3.17B £-3.51B £ -3.6B
2016-02-09 09:30 AM Dec £-2.71B £-4.03B £ -2.9B
2016-03-11 09:30 AM Jan £-2.71B £ -2.8B
2016-04-08 08:30 AM Feb £ -3.2B
2016-05-10 08:30 AM Mar £ -3.2B

UK Trade Deficit at 3-Month Low


British trade gap narrowed to GBP 2.7 billion in December of 2015 from an upwardly revised GBP 4.03 billion shortfall in November. It is the lowest trade deficit in three months, due to a drop in imports of unspecified goods while falling oil prices brought oil purchases down to its lowest since February of 2009.

Total imports went down 3.6 percent to GBP 44.51 billion in December. Purchases of goods declined by GBP 1.7 billion to GBP 33.0 billion mainly reflecting a fall in imports of unspecified goods (down by GBP 1.0 billion) and oil (down by GBP 0.24 billion). Total exports declined 0.8 percent to GBP 41.8 billion. Goods sales decreased by GBP 0.08 billion. As a result, the trade in goods deficit has narrowed to GBP 9.9 billion from GBP 11.5 billion in November.

Considering the last quarter of the year, the total trade deficit including goods and services widened by GBP 1.8 billion to GBP 10.4 billion as exports declined 0.8 percent and imports rose 0.6 percent. The goods gap increased by GBP 0.9 billion: exports of goods fell by GBP 0.5 billion, to GBP 69.8 billion reflecting a GBP 0.9 billion decrease in the export of chemicals and a GBP 0.5 billion fall in oil exports. These decreases were offset by an increase in aircraft shipments of GBP 0.9 billion, reaching a record high of GBP 3.6 billion.

For full 2015 year, the deficit on trade in goods and services was GBP 34.7 billion compared with a deficit of GBP 34.4 billion in 2014. The widening was attributed to a 0.2 percent decrease in exports while imports edged down at a slower 0.1 percent. 

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
2/9/2016 10:04:17 AM

United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -2709.00 -4031.00 2946.00 -5467.00 GBP Million [+]
Exports 41801.00 42205.00 45102.00 962.00 GBP Million [+]
Imports 44510.00 45375.00 48703.00 1031.00 GBP Million [+]
Current Account -17457.00 -16767.00 2693.00 -28833.00 GBP Million [+]
Current Account to GDP -5.00 -4.50 1.90 -5.50 percent [+]
External Debt -348783.00 -372018.00 88871.00 -450721.00 GBP Million [+]
Terms of Trade 99.00 98.40 107.60 80.10 Index Points [+]
Foreign Direct Investment 22369.00 -26910.00 82539.00 -44536.00 GBP Million [+]
Capital Flows 26602.00 9463.00 34817.00 -10494.00 GBP Million [+]
Gold Reserves 310.29 310.29 588.27 310.25 Tonnes [+]
Crude Oil Production 26.00 17.00 2747.00 1.00 BBL/D/1K [+]
Terrorism Index 5.61 5.45 5.68 4.19 [+]




Last
Afghanistan -8209.00 Dec/14
Albania -35120.80 Dec/15
Algeria -1270.00 Sep/15
Angola 1424.72 Mar/15
Argentina 254.00 Oct/15
Armenia -194.00 Dec/15
Aruba -491.66 Sep/15
Australia -3535.00 Dec/15
Austria 457.10 Nov/15
Azerbaijan 1544479.00 Sep/15
Bahamas -515.40 Sep/15
Bahrain 3441.00 Dec/14
Bangladesh -74.86 Nov/15
Barbados -212322.22 Jun/15
Belarus -427.50 Dec/15
Belgium 1956.90 Nov/15
Belize -159.67 Dec/15
Benin -167.71 Jun/15
Bhutan -26021.60 Dec/15
Bolivia -72.90 Sep/15
Bosnia and Herzegovina -401.08 Dec/15
Botswana -1998.20 Nov/15
Brazil 923.00 Jan/16
Brunei 308.00 Nov/15
Bulgaria -479.70 Nov/15
Burkina Faso -49.00 Sep/14
Burundi -61284.10 Sep/15
Cambodia -746.40 Jan/16
Cameroon -1054.40 Dec/13
Canada -584.90 Dec/15
Cape Verde -4129.20 Dec/15
Cayman Islands -791.40 Dec/14
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 685.00 Jan/16
China 600.93 Dec/15
Colombia -1.69 Nov/15
Comoros -73294.00 Dec/14
Congo 1001.80 Dec/14
Costa Rica -478.00 Dec/15
Croatia -3846.50 Dec/15
Cuba -7926.60 Dec/14
Cyprus -318952.00 Dec/15
Czech Republic 17000.00 Dec/15
Denmark 1927.30 Dec/15
Djibouti -119840.00 Dec/14
Dominican Republic -644.90 Sep/15
East Timor -95227.12 Nov/15
Ecuador -206000.00 Nov/15
Egypt -3397.00 Nov/15
El Salvador -431.10 Dec/15
Equatorial Guinea 2723.70 Dec/10
Eritrea -149.00 Dec/12
Estonia -160.52 Dec/15
Ethiopia -3413.10 Jun/15
Euro Area 23618.10 Nov/15
European Union 5862.70 Nov/15
Fiji -181343.00 Oct/15
Finland -340.00 Dec/15
France -3943.00 Dec/15
Gabon 3711.95 Dec/13
Gambia -2269.53 Dec/14
Georgia -665.00 Dec/15
Germany 18800.00 Dec/15
Ghana -1226.00 Sep/15
Greece -1563.50 Dec/15
Guatemala -540.40 Dec/15
Guinea -103.83 Jun/13
Guinea Bissau -32.30 Dec/14
Guyana -100.20 Jun/15
Haiti -160.26 Jul/15
Honduras -520.50 Sep/15
Hong Kong -45706.00 Dec/15
Hungary 201400.00 Dec/15
Iceland -1200.00 Jan/16
India -11664.00 Dec/15
Indonesia -230.00 Dec/15
Iran -2405.00 Dec/14
Iraq 38780.80 Dec/14
Ireland 3378800.00 Nov/15
Israel -991.30 Dec/15
Italy 4409.43 Nov/15
Ivory Coast 757.00 Dec/13
Jamaica -832000.00 Jun/15
Japan 140.20 Dec/15
Jordan -756171.10 Nov/15
Kazakhstan 1198.40 Nov/15
Kenya -114283.00 Nov/15
Kosovo -230094.00 Dec/15
Kuwait 1836.10 Sep/15
Kyrgyzstan -237.90 Nov/15
Laos -488.34 Sep/15
Latvia -155.50 Dec/15
Lebanon -1604.94 Dec/15
Lesotho -2384.00 Sep/15
Liberia -88.50 Sep/15
Libya -17675.60 Dec/14
Liechtenstein 315120.00 Sep/15
Lithuania -210.50 Dec/15
Luxembourg -0.38 Nov/15
Macau -6083788.93 Dec/15
Macedonia -228611.00 Dec/15
Madagascar -204525.00 Sep/15
Malawi -57415.30 Mar/15
Malaysia 7990.00 Dec/15
Maldives -137.10 Nov/15
Mali -100.60 Mar/15
Malta -149486.00 Dec/15
Mauritania -268.39 Sep/15
Mauritius -7798.00 Nov/15
Mexico -927.00 Dec/15
Moldova -189.10 Dec/15
Monaco -86.40 Sep/15
Mongolia 18.00 Nov/15
Montenegro -124400.00 Dec/15
Morocco -9053.00 Sep/15
Mozambique -1274.70 Sep/15
Myanmar -942.70 Jan/16
Namibia -9830.66 Sep/15
Nepal -76499.00 Jun/15
Netherlands 4168.00 Nov/15
New Caledonia -11456.00 Dec/15
New Zealand -52.62 Dec/15
Nicaragua -223.60 Sep/15
Niger -441985.00 Sep/15
Nigeria 197187.70 Sep/15
North Korea -695.83 Dec/14
Norway 18114.00 Dec/15
Oman 284.70 Jul/15
Pakistan -215151.00 Dec/15
Palestine -335.30 Nov/15
Panama -912393.10 Nov/15
Papua New Guinea 4191.00 Sep/15
Paraguay -4863.84 Jan/16
Peru 210.00 Dec/16
Philippines -976870.00 Nov/15
Poland 756.00 Nov/15
Portugal -1128.00 Dec/15
Puerto Rico 2916.00 Sep/16
Qatar 9305.00 Dec/15
Republic of the Congo 4092.35 Dec/10
Romania -1174.90 Dec/15
Russia 9114.00 Nov/15
Rwanda -149.04 Nov/15
Sao Tome and Principe -31.85 Sep/15
Saudi Arabia 44465.00 Sep/15
Senegal -170.26 Nov/15
Serbia -541.50 Dec/15
Seychelles -24.77 Nov/15
Sierra Leone -89.75 Mar/15
Singapore 5158.30 Dec/15
Slovakia -16.30 Dec/15
Slovenia -63.90 Dec/15
Somalia -1281.56 Dec/14
South Africa 8221.07 Dec/15
South Korea 5362.41 Jan/16
South Sudan -4987.00 Dec/13
Spain -1850000.00 Nov/15
Sri Lanka -629.70 Nov/15
Sudan -661598.00 Sep/15
Suriname -130.90 Sep/15
Swaziland 1098.48 Mar/15
Sweden 4700.00 Dec/15
Switzerland 2544.00 Dec/15
Syria 9394.50 Dec/10
Taiwan 135991.00 Dec/15
Tajikistan -214.60 Dec/15
Tanzania 207.70 Nov/15
Thailand 1490.00 Dec/15
Togo -68.29 Dec/14
Trinidad and Tobago 460.40 Jun/15
Tunisia -507.20 Jan/16
Turkey -6182.60 Dec/15
Turkmenistan 2431.94 Dec/14
Uganda -216.70 Dec/15
Ukraine -131.50 Nov/15
United Arab Emirates 480600.00 Dec/14
United Kingdom -2709.00 Dec/15
United States -43357.00 Dec/15
Uruguay -138249.00 Dec/15
Uzbekistan 168.00 Mar/15
Venezuela -782.00 Sep/15
Vietnam -200.00 Jan/16
Yemen -2914.30 Dec/13
Zambia 1226.10 Nov/15
Zimbabwe -290.99 Dec/14