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.