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. source: Office for National Statistics

Balance of Trade in the United Kingdom averaged -1281.48 GBP Million from 1955 until 2020, reaching an all time high of 7644 GBP Million in December of 2019 and a record low of -8737 GBP Million in February of 2019. This page provides - United Kingdom Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.

Balance of Trade in the United Kingdom is expected to be -3100.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in the United Kingdom to stand at -2800.00 in 12 months time. In the long-term, the United Kingdom Balance of Trade is projected to trend around -2800.00 GBP Million in 2022 and -800.00 GBP Million in 2023, according to our econometric models.

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United Kingdom Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-6202.00 -6618.00 7644.00 -8737.00 1955 - 2020 GBP Million Monthly
Current Prices, SA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-12 07:00 AM Sep £0.6B £2.9B £-1.0B
2020-12-10 07:00 AM Oct £-1.7B £0.6B £0.5B
2021-01-15 07:00 AM Nov £-5B £-2.3B £-1.2B
2021-02-12 07:00 AM Dec £-6.2B £-6.6B £-4.2B
2021-03-12 07:00 AM Jan £-6.2B £-4.8B
2021-04-12 06:00 AM Feb
2021-05-12 06:00 AM Mar
2021-06-11 06:00 AM Apr
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
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.
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.
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.
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.
2020-11-12

United Kingdom Balance of Trade
The UK's trade balance has been in deficit since 1998, due to deficits in trade in goods which are partly offset by surpluses in trade in services. The level of total UK trade in goods as a proportion of total trade in goods and services has been gradually declining since 1986 after peaking at 75 percent in 1985. This is consistent with the rising share of UK trade in services (35 percent of total trade in 2017). In 2017, the biggest goods deficits were recorded with Germany, China, the Netherlands, Norway, Belgium & Luxembourg and Italy; and the largest surpluses were recorded with the United States, Ireland and South Korea.