Imports of goods and services to the UK rose 2.8 percent to GBP 56.68 billion in October 2018 from GBP 55.17 billion in the previous month. The increase was driven by a 3.5 percent jump in purchases of goods, such as machinery & transport equipment (5.4 percent), miscellaneous manufactures (4.5 percent), chemicals (7.7 percent), fuels (1.1 percent), material manufactures (5.1 percent), and food & live animals (2.6 percent). Imports of services went up 0.5 percent. Among major trading partners, imports of goods from non-EU countries went up 6 percent, as purchases increased the most from China (9.3 percent), the US (11.3 percent), Norway (32.5 percent), Japan (5.9 percent), Russia (7.4 percent) and India (7.1 percent); while those from Turkey dropped 3.2 percent. In addition, imports from the EU increased 1.4 percent, mainly from Germany (7.7 percent), Italy (4.3 percent) and Spain (2.1 percent). There was a decline in imports from Ireland (-8.5 percent) and Poland (-2 percent). Imports in the United Kingdom averaged 25452.45 GBP Million from 1955 until 2018, reaching an all time high of 57009 GBP Million in August of 2018 and a record low of 1031 GBP Million in June of 1955.
Imports in the United Kingdom is expected to be 56500.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in the United Kingdom to stand at 58500.00 in 12 months time. In the long-term, the United Kingdom Imports is projected to trend around 59500.00 GBP Million in 2020, according to our econometric models.