Imports of goods and services to the UK went up 2.8 percent month-over-month to an all-time high of GBP 58.49 billion in January 2019 as companies were storing supplies ahead of exit from the European Union. Purchases of goods grew 3.8 percent driven by food & live animals (9.0 percent); beverages & tobacco (7.7 percent); animal & vegetable oils & fats (23.1 percent); chemicals (10.1 percent); machinery & transport equipment (2.4 percent); and miscellaneous manufactures (5.9 percent). On the other hand, purchases dropped for crude materials (-5.9 percent); fuels (-0.2 percent); and material manufactures (-4.7 percent). Imports of services were almost unchanged. Among major trading partners, imports of goods from non-EU countries rose 6.2 percent and those from the EU advanced 1.8 percent. Imports in the United Kingdom averaged 25611.95 GBP Million from 1955 until 2019, reaching an all time high of 58487 GBP Million in January of 2019 and a record low of 1031 GBP Million in June of 1955.
Imports in the United Kingdom is expected to be 57100.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in the United Kingdom to stand at 59100.00 in 12 months time. In the long-term, the United Kingdom Imports is projected to trend around 60500.00 GBP Million in 2020, according to our econometric models.