United Kingdom Balance of Trade1955-2020 Data | 2021-2022 Forecast | Calendar

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.

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%.

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.

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.