United Kingdom Balance of Trade  1955-2017 | Data | Chart | Calendar

The UK’s deficit on trade in goods and services widened by GBP 1.39 billion to GBP 5.63 billion in August 2017 from an upwardly revised GBP 4.24 billion gap in July and way above market expectations of a GBP 2.80 billion gap. It was the largest trade deficit since September last year, as the goods trade gap hit a record high. Balance of Trade in the United Kingdom averaged -1461.59 GBP Million from 1955 until 2017, reaching an all time high of 2946 GBP Million in March of 1981 and a record low of -6345 GBP Million in September of 2016.

United Kingdom Balance of Trade
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UK August Trade Deficit Largest in 11 Months


The UK’s deficit on trade in goods and services widened by GBP 1.39 billion to GBP 5.63 billion in August 2017 from an upwardly revised GBP 4.24 billion gap in July and way above market expectations of a GBP 2.80 billion gap. It was the largest trade deficit since September last year, as the goods trade gap hit a record high.

Imports of goods and services to the United Kingdom jumped by 3.2 percent to an all-time high of GBP 55.78 billion from GBP 54.08 billion in the previous month, boosted by higher purchases of basic materials (17.8 percent), semi-manufactures (10.3 percent), finished manufactures (2.5 percent) and food beverages and tobacco (1.3 percent). Among trading partners, imports of goods from the EU increased by 5.8 percent, mainly from the Netherlands (20 percent), Belgium & Luxembourg (9.7 percent), France (5 percent) and Germany (2.1 percent). Also, purchases from non-EU countries rose by 3 percent, as imports increased the most from Canada (32.9 percent), followed by the US (1 percent) and Norway (0.9 percent).

Exports increased by 0.6 percent to GBP 50.15 billion in August from GBP 49.84 billion in July, due to increases in sales of semi-manufactures (4.7 percent) and finished manufactures (2.7 percent). Among major trading partners, sales of goods to the EU grew by 2.3 percent, as sales increased mainly to Belgium & Luxembourg (6.1 percent) and Ireland (5.9 percent). Also, exports of goods to non-EU countries went up by 0.6 percent, namely to South Korea (32.5 percent) and the US (0.5 percent). By contrast, exports to China dropped 28.8 percent.

In the three months to August, the trade deficit widened by GBP 6.2 billion from the previous three-month period to GBP 13.2 billion, largely due to a switch from a surplus to a deficit on the balance of erratic commodities, such as non-monetary gold

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
10/10/2017 9:28:03 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-08-10 08:30 AM Balance of Trade £-4.56B £-2.52B £-2.5B £-3.6B
2017-09-08 08:30 AM Balance of Trade £-2.87B £-2.91B £-4.7B
2017-10-10 08:30 AM Balance of Trade £-5.63B £-4.24B £-2.800B £-3.2B
2017-11-09 09:30 AM Balance of Trade £-5.63B
2017-12-08 09:30 AM Balance of Trade


United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade -5626.00 -4236.00 2946.00 -6345.00 GBP Million [+]
Exports 50153.00 49839.00 51128.00 962.00 GBP Million [+]
Imports 55779.00 54075.00 55779.00 1031.00 GBP Million [+]
Current Account -23182.00 -22256.00 2657.00 -33681.00 GBP Million [+]
Current Account to GDP -4.40 -4.30 2.60 -4.70 percent [+]
External Debt 6138780.00 6046609.00 6428718.00 565439.00 GBP Million [+]
Terms of Trade 101.60 99.90 107.60 80.10 Index Points [+]
Capital Flows 11099.00 16416.00 42878.00 -15043.00 GBP Million [+]
Foreign Direct Investment 7430.00 13118.00 89855.00 -44536.00 GBP Million [+]
Gold Reserves 310.29 310.29 588.27 310.25 Tonnes [+]
Crude Oil Production 941.00 931.00 2821.00 1.00 BBL/D/1K [+]
Terrorism Index 5.08 5.61 5.68 4.19 [+]
Tourism Revenues 2750.00 2160.00 2750.00 126.00 GBP Million [+]
Tourist Arrivals 4020.00 3510.00 4020.00 540.00 Thousand [+]
Weapons Sales 1393.00 1139.00 6069.00 744.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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 (44 percent of total trade in 2016). In 2016, the biggest goods deficits were recorded with Germany, China, and the Netherlands, and the largest surpluses were recorded with the United States and Ireland. 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 October of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-5626.00 -4236.00 2946.00 -6345.00 1955 - 2017 GBP Million Monthly




balance of trade by Country

Last
Australia 989.00 Aug/17
Brazil 5178.00 Sep/17
Canada -3413.40 Aug/17
China 284.67 Sep/17
Euro Area 16086.90 Aug/17
France -4514.00 Aug/17
Germany 20000.00 Aug/17
India -8984.29 Sep/17
Indonesia 1760.00 Sep/17
Italy 2769.02 Aug/17
Japan 113.64 Aug/17
Mexico -2732.00 Aug/17
Netherlands 4073.00 Aug/17
Russia 6612.00 Aug/17
South Korea 13800.00 Sep/17
Spain -2099000.00 Jul/17
Switzerland 2173.00 Aug/17
Turkey -5873.11 Aug/17
United Kingdom -5626.00 Aug/17
United States -42395.00 Aug/17