News

UK Trade Gap Widens in March
The UK trade deficit rose to GBP 2.0 billion in March of 2021 from a downwardly revised GBP 0.9 billion in the prior month. Imports advanced 8 percent to GBP 50.11 billion, with purchases of goods jumping 9.9 percent and services imports rising 2.2 percent. Meantime, exports increased at a slower 5.8 percent to GBP 48.15 billion, as goods shipments rose 9.3 percent and services sales went up 1.6 percent.
Published on 2021-05-12

UK Posts Widest Trade Gap in Nearly a Year
The UK trade deficit rose to GBP 7.1 billion in February of 2021 from an upwardly revised GBP 3.4 billion in the prior month. It was the largest monthly trade shortfall since March of 2019. Imports advanced 12.9 percent to GBP 53.30 billion, with purchases of goods jumping 17.4 percent and services imports rising 0.6 percent. Meanwhile, exports increased at a slower 5.4 percent to GBP 46.18 billion, as goods shipments increased 9.9 percent and services sales went up 0.8 percent.
Published on 2021-04-13

UK Posts Smallest Trade Gap in 5 Months
The UK trade deficit fell to GBP 1.6 billion in January of 2021, the smallest trade shortfall in five months, as both imports and exports fell at a record pace following the end of EU exit transition period and the reintroduction of COVID-19 restrictions on activity. Imports declined 18.5 percent to GBP 43.03 billion, with purchases of goods slipping 22.8 percent and services imports falling 2.4 percent. Meantime, exports fell at a record 11.2 percent to GBP 41.40 billion, as goods shipments slumped 18.3 percent and services sales decreased 0.9 percent.
Published on 2021-03-12

UK Trade Gap Narrows in December
The UK trade deficit fell to GBP 6.2 billion in December of 2020 from an upwardly revised GBP 6.6 billion in the prior month. Still, it was the second-largest monthly trade shortfall since April of 2019. Exports rose 1 percent to GBP 46.61 billion, as goods shipments increased 1.5 percent and services sales were up 0.2 percent. Meanwhile, imports rose just 0.1 percent to GBP 52.81 billion as purchases of goods dropped 0.2 percent while acquisitions of services advanced 0.9 percent. In 2020, the country's trade deficit narrowed to GBP 9.6 billion from GBP 27.5 billion a year earlier, with exports and imports falling 17.1 percent and 18.9 percent, respectively.
Published on 2021-02-12

UK Posts Widest Trade Gap Since 2019
The UK trade deficit rose to GBP 5 billion in November of 2020 from an upwardly revised GBP 2.3 billion in the prior month. It was the largest monthly trade shortfall since April of 2019. Imports surged 8.9 percent to GBP 55.3 billion, as an 11.9 percent jump in purchases of goods more than offset a 1.1 percent decrease in acquisitions of services. Exports rose at a slower 3.9 percent to GBP 50.3 billion, as good shipments increased 7.5 percent while services sales were down 0.3 percent.
Published on 2021-01-15

UK Trade Balance Swings to Deficit in October
The UK posted a trade deficit of GBP 1.74 billion in October of 2020 compared to a surplus of GBP 0.61 billion in the previous month. It was the first monthly trade shortfall since March. Exports fell 3.6 percent to GBP 47.99 billion, led by a 5.9 percent decline in goods shipments and a 0.7 percent drop in services exports. Meantime, imports rose 1.2 percent to GBP 49.72 billion, as 2.8 percent increase in purchases of goods partly offset a 3.7 percent decline in acquisitions of services.
Published on 2020-12-10

UK Posts Smallest Trade Surplus in 6 Months
The UK trade surplus fell to GBP 0.61 billion in September of 2020 from an upwardly revised 2.85 billion in the prior month. It was the smallest trade surplus in six months. Exports rose 2.6 percent to GBP 49.76 billion, boosted by a 3.3 percent increase in goods shipments and a 1.7 percent rise in services exports. Meantime, imports climbed 7.7 percent to GBP 49.15 billion driven by a 10.2 percent surge in purchases of goods and a 0.8 percent increase in acquisitions of services.
Published on 2020-11-12

UK Posts Smallest Trade Surplus in 5 Months
The UK trade surplus shrank to GBP 1.36 billion in August of 2020 from an upwardly revised GBP 1.69 billion in the prior month. It was the smallest monthly trade surplus in five months. Exports went up 1.5 percent to GBP 51.83 billion, boosted by a 2.7 percent rise in services exports and a 0.4 percent increase in goods shipments. Meantime, imports surged 2.2 percent to GBP 50.46 billion driven by a 3.7 percent increase in purchases of goods while those of services declined 1 percent.
Published on 2020-10-09

UK Trade Surplus Shrinks in July
The UK trade surplus narrowed to GBP 1.07 billion in July of 2020 from a downwardly revised GBP 3.90 billion in the previous month. Exports edged up 1.2 percent to GBP 50.22 billion, boosted by a 3.5 percent rise in services exports while those of goods decreased 0.9 percent. Meantime, imports climbed at a faster 7.5 percent to GBP 49.14 billion boosted by increases in both goods (5.8 percent) and services (11.5 percent).
Published on 2020-09-11

UK Trade Surplus Narrows in June
The UK trade surplus shrank to GBP 5.3 billion in June of 2020 from an upwardly revised GBP 7.7 billion in the previous month. Imports surged 21.9 percent boosted by increases in both goods and services, while exports advanced at a slower 13.1 percent, mainly driven by a jump in services. In the second quarter of the year, the country posted a trade surplus of GBP 18.8 billion compared to a deficit of GBP 1.2 billion in the prior quarter.
Published on 2020-08-12

UK Posts Second-Largest Surplus on Record
The UK trade surplus widened to GBP 4.3 billion in May 2020 from an upwardly revised GBP 2.3 billion in the previous month. That was the second-largest surplus on record, as exports rose 3.5 percent boosted by a 6.6 percent jump in goods sales, while imports fell 1.7 percent due to declines in both goods and services purchases.
Published on 2020-07-14

UK Posts Trade Surplus as Imports Slump
The UK posted a trade surplus of GBP 0.305 billion in April of 2020 compared to a downwardly revised GBP 3.956 billion deficit in the previous month. Exports fell 19.3% to GBP 37.71 billion, the lowest since August of 2010, due to a 14.9% drop in goods and a 24.4% decline in services. Within goods, sales were down for machinery & transport equipment (-27.1%); fuels (-15.9%); miscellaneous manufactures (-19.6%) and material manufacturers (-4.7%). Goods shipments declined to both EU countries (-10.4%) and non-EU countries (-18.5%). Meantime, imports slid at a faster 26.2% to GBP 37.41 billion, its lowest since January of 2010, on the back of a 21.9% fall in purchases of goods and a 37.6% in those of services. Goods imports declined mainly for machinery & transport equipment (27.7%); food & live animals (-0.9%); miscellaneous manufactures (-18%); material manufacturers (-13.6%). Imports of goods slumped 23.7% from countries outside the EU and those from the EU declined 20.2%.
Published on 2020-06-12

UK Trade Gap Widens in March
The UK trade deficit rose to GBP 6.68 billion in March of 2020 from a downwardly revised GBP 1.54 billion in the previous month. Exports slid 12.9 percent to its lowest since September of 2016, due to a 20.2 percent plunge in service exports and a 5.8 percent decline in goods shipments. Within goods, sales were down for machinery & transport equipment (-7.3 percent), fuels (-35 percent) and miscellaneous manufactures (-11.9 percent). Goods shipments declined to both EU countries (-11.7 percent) and non-EU countries (-0.5 percent). Meantime, imports fell 3.5 percent, on the back of a 16.1 percent fall in services purchases. On the other hand, imports of goods went up 2.8 percent led by purchases of unspecified goods, which include precious metals (+97.6 percent), followed by chemicals (+10.5 percent). Imports of goods climbed 5.0 percent from countries outside the EU and those from the EU went up 0.6 percent.
Published on 2020-05-13

UK Trade Balance Swings to Deficit in February
The UK posted a GBP 2.79 billion trade deficit in February 2020, compared to a revised GBP 2.41 billion surplus in the previous month. Exports tumbled 5.8 percent to a nine-month low, due to a 10.8 percent plunge in goods shipments and a 0.1 percent decline in service exports. Within goods, sales were down for food & live animals (-4.3 percent), fuels (-10.1 percent), chemicals (-9.2 percent), material manufactures (-4.1 percent), and machinery & transport equipment (-3.4 percent). Meanwhile, imports rose 3.0 percent, on the back of a 6.0 percent advance in goods purchases. Imports of unspecified goods, which include precious metals, led the increase (2331.2 percent), followed by machinery & transport equipment (1.8 percent), while other major categories saw declines.
Published on 2020-04-09

UK Trade Surplus Narrows in February
The UK trade surplus decreased to GBP 4.21 billion in January 2020 from a downwardly revised GBP 6.28 billion in the previous month. Exports fell 2.8% from a record high to GBP 62.5 billion, dragged by a 5.6% drop in shipments of goods, particularly machinery & transport equipment (-3.2%); chemicals (-5.6%) and miscellaneous manufactures (-2.5%). Goods shipments declined to both EU countries (-3.2%) and non-EU countries (-7.8%). On the other hand, services exports edged up 0.8%. Meanwhile, imports went up 0.5% from a month earlier to GBP 58.3 billion, boosted by a 0.7% increase in goods purchases like chemicals (7.6%) and food & live animals (4.5%). Conversely those of machinery & transport equipment (-1.4%) and fuels (-1.2%) declined. Imports of goods climbed 2.0% from countries outside the EU while those from the EU went down 1.3%. At the same time, imports of services were little changed from the previous month at GBP 20.3 billion.
Published on 2020-03-11

UK Trade Surplus Biggest on Record in December
The UK posted a trade surplus of GBP 7.72 billion in December 2019, the biggest since monthly records began, compared to a downwardly revised GBP 1.82 billion surplus in the previous month. Exports rose 10.2 percent to an all-time high, distorted by surge in shipments of precious metals mostly to US and Turkey while shipments of manufactured products declined. Meanwhile, imports went up only 0.1 percent, as services imports increased 0.7 percent and goods purchases dropped 0.1 percent as UK companies tried to ran down the stocks of foreign goods bought in earlier months in anticipation of no-deal Brexit. In 2019, the trade deficit narrowed slightly to GBP 29.3 billion from GBP 29.8 billion a year ago, with exports and imports rising 5 percent and 4.7 percent, respectively.
Published on 2020-02-11

UK Posts Largest Trade Surplus on Record
The UK posted a trade surplus of GBP 4.03 billion in November 2019, the biggest since monthly records began, compared to a revised GBP 1.34 billion deficit in the previous month. Exports rose 1.1 percent to an all-time high, boosted by sales of unspecified goods including non-monetary gold and fuels. Meanwhile, imports plunged 7.8 percent to a near two-year low due to purchases of food & live animals, fuels, chemicals, material manufactures, machinery & transport equipment, and miscellaneous manufactures. Among key trade partners, exports rose mostly to China, Switzerland and Turkey, but dropped to the US, Hong Kong and the EU. Imports tumbled from the EU, especially from Germany, the Netherlands and France, China, the US, Japan and Turkey.
Published on 2020-01-13

UK Trade Deficit Largest in 6 Months
The total UK trade deficit widened sharply to GBP 5.19 billion in October 2019, the biggest since April, from a revised GBP 1.92 billion in the previous month. Imports jumped 6.2 percent, while exports rose at a much softer 0.8 percent, still reaching an all-time high.
Published on 2019-12-10

UK Posts Largest Trade Gap in 4 Months
The UK trade deficit rose to GBP 3.36 billion in September 2019 from an upwardly revised GBP 1.76 billion in the previous month. This was the largest monthly trade shortfall since May, as imports surged 3.9 percent while exports advanced at a slower 1.1 percent.
Published on 2019-11-11

UK Trade Dedicit Narrows in August
The UK trade deficit narrowed to GBP 1.55 billion in August 2019 from a revised GBP 1.68 billion in the previous month. Exports increased 0.9 percent and imports rose at a softer 0.6 percent.
Published on 2019-10-10