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.