The UK trade surplus shrank to GBP 1.36 billion in August of 2020 from an upwardly revised GBP 1.69 billion in the prior month. It was the smallest monthly trade surplus in five months. Exports went up 1.5 percent to GBP 51.83 billion, boosted by a 2.7 percent rise in services exports and a 0.4 percent increase in goods shipments. Meantime, imports surged 2.2 percent to GBP 50.46 billion driven by a 3.7 percent increase in purchases of goods while those of services declined 1 percent. source: Office for National Statistics

Balance of Trade in the United Kingdom averaged -1237.01 GBP Million from 1955 until 2020, reaching an all time high of 7087 GBP Million in May of 2020 and a record low of -7900 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 October of 2020.

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 4240.00 in 12 months time. In the long-term, the United Kingdom Balance of Trade is projected to trend around -2800.00 GBP Million in 2021 and -800.00 GBP Million in 2022, according to our econometric models.

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United Kingdom Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
1364.00 1689.00 7087.00 -7900.00 1955 - 2020 GBP Million Monthly
Current Prices, SA


Calendar GMT Actual Previous Consensus TEForecast
2020-07-14 06:00 AM May £4.3B £2.3B £-0.8B
2020-08-12 06:00 AM Jun £5.3B £7.7B £2.8B
2020-09-11 06:00 AM Jul £1.1B £3.9B £1.2B
2020-10-09 06:00 AM Aug £1.4B £1.7B £0.6B
2020-11-11 07:00 AM Sep £1.4B £ 0.83B
2020-12-10 07:00 AM Oct £1.4B


News Stream
UK Posts Smallest Trade Surplus in 5 Months
The UK trade surplus shrank to GBP 1.36 billion in August of 2020 from an upwardly revised GBP 1.69 billion in the prior month. It was the smallest monthly trade surplus in five months. Exports went up 1.5 percent to GBP 51.83 billion, boosted by a 2.7 percent rise in services exports and a 0.4 percent increase in goods shipments. Meantime, imports surged 2.2 percent to GBP 50.46 billion driven by a 3.7 percent increase in purchases of goods while those of services declined 1 percent.
2020-10-09
UK Trade Surplus Shrinks in July
The UK trade surplus narrowed to GBP 1.07 billion in July of 2020 from a downwardly revised GBP 3.90 billion in the previous month. Exports edged up 1.2 percent to GBP 50.22 billion, boosted by a 3.5 percent rise in services exports while those of goods decreased 0.9 percent. Meantime, imports climbed at a faster 7.5 percent to GBP 49.14 billion boosted by increases in both goods (5.8 percent) and services (11.5 percent).
2020-09-11
UK Trade Surplus Narrows in June
The UK trade surplus shrank to GBP 5.3 billion in June of 2020 from an upwardly revised GBP 7.7 billion in the previous month. Imports surged 21.9 percent boosted by increases in both goods and services, while exports advanced at a slower 13.1 percent, mainly driven by a jump in services. In the second quarter of the year, the country posted a trade surplus of GBP 18.8 billion compared to a deficit of GBP 1.2 billion in the prior quarter.
2020-08-12
UK Posts Second-Largest Surplus on Record
The UK trade surplus widened to GBP 4.3 billion in May 2020 from an upwardly revised GBP 2.3 billion in the previous month. That was the second-largest surplus on record, as exports rose 3.5 percent boosted by a 6.6 percent jump in goods sales, while imports fell 1.7 percent due to declines in both goods and services purchases.
2020-07-14

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.