The UK trade deficit broadened to GBP 11.387 billion in June of 2022 from a downwardly revised GBP 9.119 billion in the previous month. Exports decreased by 4.2% to GBP 56.608 billion, as good sales slumped 8% amid declines to both non-EU countries (-11.9%) and EU countries (-3.9%). Conversely, exports of services went up 0.6% to GBP 27.451 billion. Meanwhile, imports fell 0.4% to GBP 69.995 billion, as goods purchases declined 1%, dragged down by a 4.2% slump in purchases from EU countries while those from non-EU countries rose 2.4%. Imports of services increased 1.5%. source: Office for National Statistics

Balance of Trade in the United Kingdom averaged -1358.53 GBP Million from 1955 until 2022, reaching an all time high of 8131 GBP Million in December of 2019 and a record low of -11938 GBP Million in January of 2022. 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 August of 2022.

Balance of Trade in the United Kingdom is expected to be -800.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Balance of Trade is projected to trend around -500.00 GBP Million in 2023 and 700.00 GBP Million in 2024, according to our econometric models.

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United Kingdom Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-07-13 06:00 AM May £-9.747B £-9.811B £-9.3B
2022-08-12 06:00 AM Jun £-11.387B £-9.119B £ -9.6B
2022-09-12 06:00 AM Jul £-11.387B


Related Last Previous Unit Reference
Balance of Trade -11387.00 -9119.00 GBP Million Jun 2022
Current Account -51700.00 -7300.00 GBP Million Mar 2022
Current Account to GDP -2.60 -2.50 percent of GDP Dec 2021
Exports 58608.00 61154.00 GBP Million Jun 2022
Imports 69995.00 70273.00 GBP Million Jun 2022
External Debt 7317114.00 7344995.00 GBP Million Mar 2022
Foreign Direct Investment -2198.00 -10541.00 GBP Million Mar 2022
Capital Flows 29124.00 12283.00 GBP Million Mar 2022
Goods Trade Balance -22847.00 -21445.00 GBP Million Jun 2022
Tourist Arrivals 3635.00 1308.00 Thousand Dec 2021
Tourism Revenues 3031.00 1152.00 GBP Million Dec 2021
Terms of Trade 101.80 101.50 points Apr 2018

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.
Actual Previous Highest Lowest Dates Unit Frequency
-11387.00 -9119.00 8131.00 -11938.00 1955 - 2022 GBP Million Monthly
Current Prices, SA

News Stream
UK Trade Gap Widens in June
The UK trade deficit broadened to GBP 11.387 billion in June of 2022 from a downwardly revised GBP 9.119 billion in the previous month. Exports decreased by 4.2% to GBP 56.608 billion, as good sales slumped 8% amid declines to both non-EU countries (-11.9%) and EU countries (-3.9%). Conversely, exports of services went up 0.6% to GBP 27.451 billion. Meanwhile, imports fell 0.4% to GBP 69.995 billion, as goods purchases declined 1%, dragged down by a 4.2% slump in purchases from EU countries while those from non-EU countries rose 2.4%. Imports of services increased 1.5%.
2022-08-12
UK Trade Deficit Smallest in 3 Months
The UK trade deficit narrowed slightly to GBP 9.7 billion in May of 2022 from an upwardly revised GBP 9.8 billion in the previous month. It was the smallest trade deficit since February, as imports rose less than exports. Imports grew 3.5% over the last month to GBP 70.9 billion as goods purchases increased 4.3% amid higher imports from both non-EU countries (3.3%) and EU countries (5.2%). Meanwhile, import of services were up by 0.6%. At the meantime, exports gained by 4.1% to a 29-month high of GBP 61.1 billion, amid a rise in sales of goods (7.4%), particularly to non-EU countries (+12.7%).
2022-07-13
UK Trade Deficit Smallest in 4 Months in April
The UK trade deficit declined to GBP 8.5 billion in April of 2022 from GBP 11.5 billion in the previous month. It was the smallest trade deficit since last December, as imports dropped while exports gained. Imports fell 1.1% over the last month to GBP 66.9 billion as goods purchases fell 1.6% amid lower imports from non-EU countries (-6.8%). Meanwhile, import of services were up by 0.6%. At the meantime, exports rose by 4.1% to a 27-month high of GBP 58.4 billion, amid an increase in sales of goods (7.4%), particularly to non-EU countries (+6.5%).
2022-06-13