United Kingdom Balance of Trade

The United Kingdom recorded a trade deficit of 5188 GBP Million in October of 2019. Balance of Trade in the United Kingdom averaged -1283.75 GBP Million from 1955 until 2019, reaching an all time high of 2946 GBP Million in March of 1981 and a record low of -8063 GBP Million in March of 2019. 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. This page provides – United Kingdom Balance of Trade – actual values, historical data, forecast, chart, statistics, economic calendar and news.

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