The UK trade deficit rose to GBP 5 billion in November of 2020 from an upwardly revised GBP 2.3 billion in the prior month. It was the largest monthly trade shortfall since April of 2019. Imports surged 8.9 percent to GBP 55.3 billion, as an 11.9 percent jump in purchases of goods more than offset a 1.1 percent decrease in acquisitions of services. Exports rose at a slower 3.9 percent to GBP 50.3 billion, as good shipments increased 7.5 percent while services sales were down 0.3 percent. source: Office for National Statistics
Balance of Trade in the United Kingdom averaged -1244.77 GBP Million from 1955 until 2020, reaching an all time high of 7644 GBP Million in December of 2019 and a record low of -8737 GBP Million in February of 2019. 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 February of 2021.
Balance of Trade in the United Kingdom is expected to be -3100.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in the United Kingdom to stand at -2800.00 in 12 months time. In the long-term, the United Kingdom Balance of Trade is projected to trend around -2800.00 GBP Million in 2022 and -800.00 GBP Million in 2023, according to our econometric models.