Key data points
Last release
—
Observation period
Oct 2024
Next release
—
Forecast
—
Highest
9.56 B GBP on May 31, 2020
Lowest
−12.74 B GBP on Jan 31, 2022
About 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 (about 38 percent as of 2021). The UK has trade deficits with China, Norway, Germany, Spain, Poland, Russia, Italy and India; and surpluses with the United States, Ireland, the Netherlands, Switzerland, Singapore and the United Arab Emirates.