UK Trade Gap Widens to Largest Since 2022

2026-05-14 06:25 By Chusnul Chotimah 1 min. read

The United Kingdom trade deficit widened to £9.66 billion in March 2026, up from an upwardly revised £5.34 billion in the previous month, marking the largest trade gap since January 2022.

Exports rose 0.2% month-on-month to £79.13 billion, while imports grew at a faster pace of 5.3% to a three-month high of £88.78 billion.

Goods exports edged up 0.1% to £32.35 billion, driven by higher shipments to the EU (3.9%), while those to non-EU countries remained relatively unchanged.

Exports to the EU increased due to a £0.6 billion rise in fuel exports and a £0.2 billion increase in chemical exports.

Services exports ticked up 0.2% to £46.78 billion.

On the import side, goods imports inched up 0.1% to £59.57 billion, with imports from the EU rising 2.7%, mainly driven by a £0.5 billion increase in fuel imports.

Imports from non-EU countries rose 7.5%, supported by higher imports of machinery and transport equipment, along with fuel.

Meanwhile, services imports were unchanged at £29.21 billion.



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UK Trade Gap Widens to Largest Since 2022
The United Kingdom trade deficit widened to £9.66 billion in March 2026, up from an upwardly revised £5.34 billion in the previous month, marking the largest trade gap since January 2022. Exports rose 0.2% month-on-month to £79.13 billion, while imports grew at a faster pace of 5.3% to a three-month high of £88.78 billion. Goods exports edged up 0.1% to £32.35 billion, driven by higher shipments to the EU (3.9%), while those to non-EU countries remained relatively unchanged. Exports to the EU increased due to a £0.6 billion rise in fuel exports and a £0.2 billion increase in chemical exports. Services exports ticked up 0.2% to £46.78 billion. On the import side, goods imports inched up 0.1% to £59.57 billion, with imports from the EU rising 2.7%, mainly driven by a £0.5 billion increase in fuel imports. Imports from non-EU countries rose 7.5%, supported by higher imports of machinery and transport equipment, along with fuel. Meanwhile, services imports were unchanged at £29.21 billion.
2026-05-14
UK Trade Balance Swings to Deficit
The UK posted a trade deficit of £0.72 billion in February 2026, shifting from a downwardly revised surplus of £3.02 billion in the previous month, as exports fell while imports rose. Exports dropped 1.5% mom to £80.20 billion, while imports grew 3.2% to a three-month high of £80.92 billion. Goods exports declined 3.9% to £33.26 billion, weighed down by lower shipments to both the EU (-0.7%) and non-EU countries (-2.3%). Exports to the EU fell due to small declines across several commodities. Exports to non-EU markets were driven by a £0.3 billion fall in chemical exports, along with £0.2 billion decreases in exports of both machinery and transport equipment, and miscellaneous manufactures. In contrast, exports of goods to the US rose 11.3%, amid higher machinery and transport equipment, and material manufactures. Services exports ticked up 0.3% to £46.95 billion. On the import side, goods imports grew 4.7% to £52.05 billion, while services imports rose 0.6% to £28.88 billion.
2026-04-16
UK Trade Balance Swings to Surplus
The UK recorded a trade surplus of £3.92 billion in January 2026, a sharp reversal from a £4.34 billion deficit in the previous month. This marks the first surplus since September 2024, as exports increased and imports declined. Exports rose 7.2% month-on-month to a record £82.51 billion, while imports fell 3.3% to a one-year low of £78.59 billion. Goods exports climbed 6.7% to £35.53 billion, driven by higher shipments to both EU (6.2%) and non-EU countries (7.1%). Exports to the EU was due to increases in machinery and transport equipment as well as fuel exports. Exports to non-EU markets were led by chemicals, particularly medicinal and pharmaceutical products to China, Turkey, and Brazil. In contrast, exports of goods to the US fell 11.3%, amid lower sales of machinery and transport equipment, specifically cars. Services exports edged up 0.2% to £46.98 billion. On the import side, goods imports decreased 0.6% to £49.98 billion, while services imports rose 0.4% to £28.61 billion.
2026-03-13