The UK trade deficit declined to GBP 8.5 billion in April of 2022 from GBP 11.5 billion in the previous month. It was the smallest trade deficit since last December, as imports dropped while exports gained. Imports fell 1.1% over the last month to GBP 66.9 billion as goods purchases fell 1.6% amid lower imports from non-EU countries (-6.8%). Meanwhile, import of services were up by 0.6%. At the meantime, exports rose by 4.1% to a 27-month high of GBP 58.4 billion, amid an increase in sales of goods (7.4%), particularly to non-EU countries (+6.5%). source: Office for National Statistics

Balance of Trade in the United Kingdom averaged -1320.55 GBP Million from 1955 until 2022, reaching an all time high of 8131 GBP Million in December of 2019 and a record low of -11781 GBP Million in January of 2022. 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 June of 2022.

Balance of Trade in the United Kingdom is expected to be -600.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Balance of Trade is projected to trend around -500.00 GBP Million in 2023 and 700.00 GBP Million in 2024, according to our econometric models.

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United Kingdom Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-05-12 06:00 AM Mar £-11.552B £-9.195B £ -10.6B
2022-06-13 06:00 AM Apr £-8.503B £-11.552B £-11.8B
2022-07-13 11:00 AM May £-8.503B


Related Last Previous Unit Reference
Balance of Trade -8503.00 -11552.00 GBP Million Apr 2022
Current Account -7300.00 -28917.00 GBP Million Dec 2021
Current Account to GDP -3.50 -3.10 percent of GDP Dec 2020
Exports 58378.00 56087.00 GBP Million Apr 2022
Imports 66881.00 67639.00 GBP Million Apr 2022
External Debt 7344995.00 7175906.00 GBP Million Dec 2021
Capital Flows 12283.00 23288.00 GBP Million Dec 2021
Foreign Direct Investment -10541.00 10789.00 GBP Million Dec 2021
Goods Trade Balance -20893.00 -23897.00 GBP Million Apr 2022
Tourist Arrivals 1308.00 277.00 Thousand Sep 2021
Tourism Revenues 1152.00 386.00 GBP Million Sep 2021
Terms of Trade 101.80 101.50 points Apr 2018

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.
Actual Previous Highest Lowest Dates Unit Frequency
-8503.00 -11552.00 8131.00 -11781.00 1955 - 2022 GBP Million Monthly
Current Prices, SA

News Stream
UK Trade Deficit Smallest in 4 Months in April
The UK trade deficit declined to GBP 8.5 billion in April of 2022 from GBP 11.5 billion in the previous month. It was the smallest trade deficit since last December, as imports dropped while exports gained. Imports fell 1.1% over the last month to GBP 66.9 billion as goods purchases fell 1.6% amid lower imports from non-EU countries (-6.8%). Meanwhile, import of services were up by 0.6%. At the meantime, exports rose by 4.1% to a 27-month high of GBP 58.4 billion, amid an increase in sales of goods (7.4%), particularly to non-EU countries (+6.5%).
2022-06-13
UK Trade Gap Expands in March
The UK trade deficit expanded to GBP 11.5 billion in March of 2022 from a downwardly revised GBP 9.2 billion in the previous month. Imports rose 4.8% over the last month to GBP 67.6 billion as goods purchases increased 5.8% amid higher imports from both EU countries (+8%) and non-EU countries (+3.8%). Also, import of services went up by 1.2%. Meanwhile, exports went up by a softer 1.3% to GBP 56.1 billion, amid increased sales of goods (2.1%), particularly to non-EU countries (+2.6%). Considering the first three months of 2022, UK posted a trade deficit of GBP 32.5 billion.
2022-05-12
UK Trade Gap Narrows in February
The UK trade deficit shrank to GBP 9.261 billion in February of 2022 from a revised record GBP 12.838 billion in the previous month. Exports rose 4.4 percent to GBP 55.974 billion, as good sales advanced 7.8 percent pushed up by a 25.4 jump in exports to EU countries while those to non-EU countries slipped 6.4 percent. On the other hand, exports of services went up 1.2 percent to GBP 27.411 billion. On the other hand, imports fell 1.8 percent to GBP 65.235 billion, as goods purchases slumped 2.5 percent amid declines from both the EU countries (-3.3 percent) and non-EU countries (-1.7 percent). Meanwhile, imports of services went up 0.3 percent. It should be noted that HM Revenue and Customs changed the collection method for imports from and exports to the EU as of January 2022.
2022-04-11