United Kingdom Balance of Trade 1955-2014 | Data | Chart | Calendar

The United Kingdom recorded a trade deficit of 2459 GBP Million in June of 2014. Balance of Trade in the United Kingdom averaged -1153.21 GBP Million from 1955 until 2014, reaching an all time high of 2946 GBP Million in March of 1981 and a record low of -5269 GBP Million in September of 1989. Balance of Trade in the United Kingdom is reported by the Office for National Statistics.

   
 
 
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United Kingdom Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
-2459.00 -2364.00 2946.00 -5269.00 1955 - 2014 GBP Million Monthly
Since 1998, U.K. runs consistent trade deficit mainly due to increase in demand of consumer goods, decline in manufacturing and deterioration in oil and gas production. In recent years, U.K. has run the biggest trade deficits with Norway, Germany, China, Hong Kong and Netherlands. The biggest trade surpluses were recorded with United States, United Arab Emirates, Australia and Saudi Arabia. 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 Friday, August 22, 2014.


UK Trade Deficit Widens in June


UK trade gap increased to £2.5 billion in June, compared with £2.4 billion in the previous month as exports of goods fell.

The deficit on trade in goods was £9.4 billion in June 2014. Exports of goods decreased by 1.6% between May and June 2014 to £23.5 billion, reflecting a £0.2 billion fall in exports of fuels, a £0.2 billion fall in semi manufactured goods and a £0.2 billion fall in exports of finished manufactures. Within fuels, oil exports fell by £0.1 billion and within finished manufactures, aircraft and ships combined fell by £0.2 billion.  Erratics, which include aircraft and ships, accounted for around 60% of the overall fall in exports of goods in June 2014.

Imports of goods for the same period decreased by 0.4% to £32.9 billion, reflecting a £0.4 billion fall in imports of fuels; specifically oil imports which fell £0.3 billion. Imports of manufactured goods as a whole rose by £0.1 billion in June 2014, however, there were significant individual falls within manufactures; imports of aircraft fell by £0.6 billion and imports of medicinal and pharmaceutical products fell by £0.3 billion. These decreases were offset by increases elsewhere, notably imports of cars (which rose by £0.2 billion) and silver (which rose £0.1 billion).

In June 2014, exports of goods to the European Union (EU) remained unchanged at £12.0 billion; a £0.3 billion fall in exports of fuels was partially offset by a similar sized rise in exports of manufactured goods. Imports of goods from the EU increased by £0.5 billion to £17.6 billion, reflecting an increase of £0.2 billion in imports of manufactured goods and a further £0.1 billion rise in imports of fuels (primarily oil).

In June 2014, exports of goods to countries outside of the EU decreased by £0.4 billion to £11.5 billion, reflecting a decrease of £0.5 billion in exports of manufactured goods; finished manufactures (specifically aircraft) and chemical manufactures (specifically medicinal and pharmaceutical products) each accounted for £0.2 billion. Imports from countries outside of the EU decreased by £0.6 billion to £15.3 billion.

Office for National Statistics | anna@tradingeconomics.com
8/8/2014 9:36:26 AM


Recent Releases

UK Trade Deficit Widens More than Expected
UK’s trade gap on goods and services increased to £2.42 billion in May of 2014, from a revised £2.05 billion in April. It is the highest shortfall in four months, due to a surge in imports of aircrafts. Published on 2014-07-10

UK Trade Deficit Widens Sharply in April
UK's trade gap on goods and services increased to £2.5 billion in April 2014, compared with £1.1 billion in March 2014, as exports to countries outside the European Union declined and imports grew slightly. Published on 2014-06-06


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-05-09 09:30 AM United Kingdom
Balance of Trade
Mar 2014 £ -1.28B £ -1.71B (R) £ -2B £ -2.1B
2014-06-06 09:30 AM United Kingdom
Balance of Trade
Apr 2014 £ -2.54B £ -1.06B (R) £ -1.4B
2014-07-10 09:30 AM United Kingdom
Balance of Trade
May 2014 £ -2.418B £ -2.052B (R) £ -1.4B
2014-08-08 09:30 AM United Kingdom
Balance of Trade
Jun 2014 £ -2.459B £ -2.364B £ -1.9B
2014-09-09 09:30 AM United Kingdom
Balance of Trade
Jul 2014 £ -2.459B £ -2.1B


Trade Last Previous Highest Lowest Unit
Balance of Trade -2459.00 -2364.00 2946.00 -5269.00 GBP Million [+]
Exports 40328.00 40699.00 43708.00 962.00 GBP Million [+]
Imports 42787.00 43063.00 45636.00 1031.00 GBP Million [+]
Current Account -18495.00 -23519.00 2752.00 -23519.00 GBP Million [+]
Current Account to GDP -4.40 -3.80 1.90 -4.90 Percent [+]
External Debt -81805.00 -21222.00 97635.00 -218422.00 GBP Million [+]
Terms of Trade 98.20 99.10 111.80 82.20 Index Points [+]
Foreign Direct Investment 13483.00 6038.00 70710.00 -7354.00 GBP Million [+]
Gold Reserves 310.25 310.25 588.27 310.25 Tonnes [+]
Crude Oil Production 798.00 881.00 2747.00 1.00 BBL/D/1K [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -1683.00 Jun/14 -2043.00 2225.00 -3907.00 AUD Million [+]
Brazil 1575.00 Jul/14 2364.45 5659.37 -4058.14 USD Million [+]
Canada 1859.60 Jun/14 576.00 8524.80 -2902.90 CAD Million [+]
China 473.00 Jul/14 315.65 473.00 -319.71 USD Hundred Million [+]
Euro Area 16800.00 Jun/14 15400.00 21780.80 -16638.00 EUR Million [+]
France -5380.00 Jun/14 -5129.00 2674.00 -7004.00 EUR Million [+]
Germany 16406.00 Jun/14 17800.00 21410.60 -535.91 EUR Million [+]
India -12228.60 Jul/14 -11763.20 258.90 -20210.90 USD Million [+]
Indonesia -305.10 Jun/14 69.90 4641.92 -2329.13 USD Million [+]
Italy 3675.63 May/14 3517.00 6382.91 -6389.31 EUR Million [+]
Japan -963.99 Jul/14 -823.20 1608.67 -2795.04 JPY Billion [+]
Mexico 423.73 Jun/14 131.81 1710.25 -3292.30 USD Million [+]
Netherlands 4773.00 Jun/14 3337.10 4948.70 -907.60 EUR Million [+]
Russia 13957.00 Jun/14 18280.00 20356.00 -185.00 USD Million [+]
South Korea 2399.00 Jul/14 5453.83 6794.27 -4043.45 USD Million [+]
Spain -1477000.00 Jun/14 -1756166.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3983.49 Jul/14 1412.00 3983.49 -1478.68 CHF million [+]
Turkey -7853.06 Jun/14 -7146.21 24.51 -10453.06 USD Million [+]
United Kingdom -2459.00 Jun/14 -2364.00 2946.00 -5269.00 GBP Million [+]
United States -41538.00 Jun/14 -44392.00 1946.00 -67823.00 USD Million [+]





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