The goods trade deficit in the UK narrowed sharply to GBP 5.26 billion in November 2019 from a revised GBP 10.95 billion in the previous month and well below market expectations of GBP 11.7 billion. That was the smallest trade gap since June 2005 as exports rose 2.2 percent to an all-time high of GBP 32.58 billion while imports tumbled 11.6 percent to GBP 37.84 billion, the lowest since February 2018. Goods Trade Balance in the United Kingdom averaged -3506.58 GBP Million from 1970 until 2019, reaching an all time high of 775 GBP Million in January of 1981 and a record low of -16867 GBP Million in February of 2019. source: Office for National Statistics

Goods Trade Balance in the United Kingdom is expected to be -11800.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Goods Trade Balance in the United Kingdom to stand at -13200.00 in 12 months time. In the long-term, the United Kingdom Goods Trade Balance is projected to trend around -10800.00 GBP Million in 2020, according to our econometric models.

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United Kingdom Goods Trade Balance

Actual Previous Highest Lowest Dates Unit Frequency
-5256.00 -10947.00 775.00 -16867.00 1970 - 2019 GBP Million Monthly
Current Prices, SA


United Kingdom Goods Trade Balance
In the UK, goods trade balance is equal to goods exports less goods imports.

United Kingdom Trade Last Previous Highest Lowest Unit
Balance of Trade 4031.00 -1337.00 4031.00 -8145.00 GBP Million [+]
Current Account -15860.00 -24152.00 2668.00 -37392.00 GBP Million [+]
Current Account to GDP -4.30 -3.50 2.60 -5.20 percent [+]
Imports 55804.00 60529.00 65001.00 1031.00 GBP Million [+]
Exports 59835.00 59192.00 59835.00 962.00 GBP Million [+]
External Debt 6940251.00 6692718.00 6940251.00 565439.00 GBP Million [+]
Capital Flows 35873.00 20873.00 40826.00 -12724.00 GBP Million [+]
Foreign Direct Investment 15164.00 25425.00 92093.00 -44536.00 GBP Million [+]
Gold Reserves 310.29 310.29 588.27 310.25 Tonnes [+]
Crude Oil Production 1044.00 960.00 2821.00 1.00 BBL/D/1K [+]
Terrorism Index 5.41 5.61 5.68 4.19 [+]
Tourism Revenues 2390.00 3120.00 3120.00 126.00 GBP Million [+]
Tourist Arrivals 3140.00 4120.00 4120.00 540.00 Thousand [+]
Goods Trade Balance -5256.00 -10947.00 775.00 -16867.00 GBP Million [+]
Weapons Sales 741.00 1235.00 5966.00 741.00 USD Million [+]