The UK’s goods trade deficit has widened in recent years, partly due to a stronger pound that boosted domestic demand and imports while weighing on exports. US trade policy changes in 2025, including new import tariffs, also affected many UK businesses. The UK-US trade deal, effective 30 June 2025, eased tariffs on UK car exports and removed duties on aluminum and steel, while a 10% tariff remains on other exports. In 2024, the UK’s top five exports were medicinal and pharmaceutical products, mechanical power generators, cars, crude oil, and aircraft. More than half of these exports went to non-EU countries, particularly the US, while key EU partners included Germany, the Netherlands, Ireland, and France.
|
Actual |
Previous |
Highest |
Lowest |
Dates |
Unit |
Frequency |
|
|
36184.00 |
36229.00 |
42869.00 |
12836.00 |
1997 - 2026 |
GBP Million |
Monthly |
SA
|