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

The trade deficit in the United Kingdom widened slightly by GBP 0.6 billion to GBP 2.3 billion in May from April of 2016. Exports fell the most in ten months and imports declined for the first time this year. Balance of Trade in the United Kingdom averaged -1448.85 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
-2263.00 -1950.00 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 July of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-10 08:30 AM Mar £-3.83B £-4.3B £ -4.7B
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 £-2.263B £ -2.7B
2016-09-09 08:30 AM Jul £ -2.6B
2016-10-07 08:30 AM Aug £ -2.2B

UK Trade Deficit Widens in May


The trade gap in the United Kingdom widened slightly by GBP 0.6 billion to GBP 2.3 billion in May from April of 2016. Exports fell the most in ten months and imports declined for the first time this year.

Total exports shrank 4.4 percent from April to GBP 43.09 billion. Sales of goods declined 8.2 percent and offset a 0.7 percent rise in exports of services. Unspecified goods including parcel post and low value trade and most notably, non-monetary gold went down GBP 1.2 billion. In addition, chemicals fell GBP 0.4 billion and machinery decreased GBP 0.4 billion.

Total imports declined 3.5 percent to GBP 45.3 billion, mainly due to imports of goods: both chemicals and ship and aircraft (combined) went down GBP 0.5 billion and machinery dropped GBP 0.3 billion.

Considering trade with the European Union, exports of goods fell 2.5 percent, mainly due to oil and chemicals while imports rose 0.6 percent, thus widening the goods deficit to GBP 7.3 billion. For trade with countries outside the EU, sales slumped 12.9 percent, due to unspecified goods and chemicals and imports contracted 10.7 percent due to machinery, chemicals and fuels. The goods gap widened slightly to GBP 2.56 billion. 

Figures for the month of April were revised to show the country recorded a GBP 1.95 billion deficit, much lower than an initial GBP 3.2 billion gap.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
7/8/2016 10:31:17 AM

United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -2263.00 -1950.00 2946.00 -6058.00 GBP Million [+]
Exports 43090.00 45056.00 45056.00 962.00 GBP Million [+]
Imports 45353.00 47006.00 48341.00 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 101.30 99.40 107.60 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 -30143.50 May/16
Algeria -1270.00 Sep/15
Angola 3002.24 Dec/15
Argentina 439.00 May/16
Armenia -100.70 Jun/16
Aruba -520.80 Dec/15
Australia -2218.00 May/16
Austria 239.00 Apr/16
Azerbaijan 621706.00 Mar/16
Bahamas -514.90 Dec/15
Bahrain 1513.00 Dec/15
Bangladesh -66.65 Apr/16
Barbados -254822.00 Dec/15
Belarus -235.00 May/16
Belgium 2040.60 May/16
Belize -131.30 Apr/16
Benin -164.32 Mar/16
Bhutan -26021.60 Dec/15
Bolivia -109.57 Feb/16
Bosnia and Herzegovina -539891.56 May/16
Botswana 3307.90 Apr/16
Brazil 3973.00 Jun/16
Brunei 190.90 May/16
Bulgaria -312.60 May/16
Burkina Faso -49.00 Sep/14
Burundi -76937.10 Mar/16
Cambodia -109.60 Feb/16
Cameroon -1054.40 Dec/13
Canada -3276.80 May/16
Cape Verde -4178.80 Mar/16
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile -33.00 Jun/16
China 481.08 Jun/16
Colombia -0.90 May/16
Comoros -73294.00 Dec/14
Congo 1001.80 Dec/14
Costa Rica -511.70 Jun/16
Croatia -4146.70 May/16
Cuba -9578.00 Dec/15
Cyprus -876144.00 May/16
Czech Republic 41538.00 May/16
Denmark 5481.90 May/16
Djibouti -119840.00 Dec/14
Dominican Republic -688.50 Dec/15
East Timor -38853.09 May/16
Ecuador 305020.00 May/16
Egypt -2866.00 May/16
El Salvador -356.48 May/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -149.00 Dec/12
Estonia -158.60 May/16
Ethiopia -3557.70 Dec/15
Euro Area 24559.40 May/16
European Union 6351.70 May/16
Fiji -262673.00 Dec/15
Finland -100.00 May/16
France -2840.00 May/16
Gabon 3711.95 Dec/13
Gambia -2269.53 Dec/14
Georgia -1297.15 Jun/16
Germany 21033.00 May/16
Ghana -773.70 Mar/16
Greece -1508.70 May/16
Guatemala -499.04 Apr/16
Guinea -103.83 Jun/13
Guinea Bissau -23.80 Dec/14
Guyana -77.30 Sep/15
Haiti -179.27 Sep/15
Honduras -372.50 Mar/16
Hong Kong -26228.00 May/16
Hungary 238000.00 May/16
Iceland -12300.00 Jun/16
India -8116.20 Jun/16
Indonesia 900.20 Jun/16
Iran 4258.00 Dec/15
Iraq 38780.80 Dec/14
Ireland 3961700.00 May/16
Israel -1459.60 Jun/16
Italy 5033.00 May/16
Ivory Coast 890.60 Dec/14
Jamaica -761100.00 Dec/15
Japan -40.72 May/16
Jordan -762247.00 Apr/16
Kazakhstan 681.90 May/16
Kenya -66307.00 May/16
Kosovo -211003.00 May/16
Kuwait 402.00 Mar/16
Kyrgyzstan -216.90 Mar/16
Laos -488.34 Sep/15
Latvia -160.50 May/16
Lebanon -1373.07 Apr/16
Lesotho -3543.23 Mar/16
Liberia -79.80 Apr/16
Libya -17675.60 Dec/14
Liechtenstein 371580.00 Mar/16
Lithuania -272.50 May/16
Luxembourg -0.39 Apr/16
Macau -4571042.93 May/16
Macedonia -209476.00 May/16
Madagascar 101517.00 Mar/16
Malawi -31524.80 Sep/15
Malaysia 3300.00 May/16
Maldives -165.70 Apr/16
Mali -100.60 Mar/15
Malta -256269.00 May/16
Mauritania -24.89 Dec/15
Mauritius -6912.00 May/16
Mexico -527.00 May/16
Moldova -175.00 May/16
Monaco 7.80 Mar/16
Mongolia 118.00 May/16
Montenegro -183453.00 May/16
Morocco -16665.00 Jun/16
Mozambique -1754.40 Dec/15
Myanmar -639.40 Dec/15
Namibia -6141.52 Mar/16
Nepal -58541.90 Dec/15
Netherlands 4339.00 May/16
New Caledonia -11870.00 Mar/16
New Zealand 358.00 May/16
Nicaragua -195.00 Apr/16
Niger -441985.00 Sep/15
Nigeria 171309.90 Mar/16
North Korea -476.67 Dec/15
Norway 6971.00 Jun/16
Oman -45.20 Dec/15
Pakistan -294469.00 Jun/16
Palestine -326.70 Mar/16
Panama -971892.17 May/16
Papua New Guinea 3957.00 Dec/15
Paraguay 54678.00 May/16
Peru 65.00 May/16
Philippines -2275000.00 Apr/16
Poland 127.00 May/16
Portugal -937.00 May/16
Puerto Rico 2091.50 Apr/16
Qatar 7531.00 May/16
Republic of the Congo 4092.35 Dec/10
Romania -979.70 May/16
Russia 7530.00 May/16
Rwanda -142.60 May/16
Sao Tome and Principe -24.59 Mar/16
Saudi Arabia 22467.00 Dec/15
Senegal -107.41 May/16
Serbia -402.10 May/16
Seychelles -49.80 May/16
Sierra Leone -33.70 Dec/15
Singapore 5194.70 Jun/16
Slovakia 427.30 May/16
Slovenia 73.00 May/16
Somalia -1473.48 Dec/15
South Africa 18730.94 May/16
South Korea 11600.00 Jun/16
South Sudan -3492.00 Dec/14
Spain -940900.00 May/16
Sri Lanka -620.70 Mar/16
Sudan -489010.00 Mar/16
Suriname -23.00 Mar/16
Swaziland 1217.38 Dec/15
Sweden -2100.00 May/16
Switzerland 3546.46 Jun/16
Syria 9394.50 Dec/10
Taiwan 3580.00 Jun/16
Tajikistan -235.60 May/16
Tanzania -223.30 Apr/16
Thailand 1540.00 May/16
Togo -68.29 Dec/14
Trinidad and Tobago 258.50 Dec/15
Tunisia -898.60 Jun/16
Turkey -5054.00 May/16
Turkmenistan 2431.94 Dec/14
Uganda -161.60 May/16
Ukraine 186.70 May/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -2263.00 May/16
United States -41144.00 May/16
Uruguay 96682.00 May/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam -17.00 Jun/16
Yemen -2914.30 Dec/13
Zambia -751.30 Apr/16
Zimbabwe -322.86 Mar/16