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.

Balance of Trade in the United Kingdom averaged -1221.34 GBP Million from 1955 until 2020, reaching an all time high of 6866 GBP Million in December of 2019 and a record low of -7557 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 August of 2020. source: Office for National Statistics

Balance of Trade in the United Kingdom is expected to be 5830.00 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 6240.00 in 12 months time. In the long-term, the United Kingdom Balance of Trade is projected to trend around 5200.00 GBP Million in 2021, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
United Kingdom Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
4296.00 2314.00 6866.00 -7557.00 1955 - 2020 GBP Million Monthly
Current Prices, SA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-09 06:00 AM Feb £-2.8B £2.4B £2.2B
2020-05-13 06:00 AM Mar £-6.7B £-1.5B £-1.7B
2020-06-12 06:00 AM Apr £0.31B £-3.96B £-6.2B
2020-07-14 06:00 AM May £4.3B £2.3B £-0.8B
2020-08-12 06:00 AM Jun £4.3B £ 2.8B
2020-09-10 06:00 AM Jul £1.2B
2020-10-09 06:00 AM Aug £2.2B
2020-11-11 07:00 AM Sep £ 5.8B


News Stream
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.
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%.
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.
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.
2020-04-09

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.