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.