When the value of exports is greater than the value of imports, the trade balance is in surplus. When the value of imports is greater than the value of exports, the trade balance is in deficit. Machinery and transport equipment was the most valuable export commodity for the United Kingdom in 2020, with an export value of 114 billion British pounds. In this month's bulletin we focus heavily on monthly trends, however, it should be noted that monthly data are erratic and small movements in these series should be treated with caution. source: Office for National Statistics Exports in the United Kingdom averaged 26010.09 GBP Million from 1955 until 2021, reaching an all time high of 62472 GBP Million in December of 2019 and a record low of 962 GBP Million in June of 1955. Trade has not been typical in recent months and, because of the practical challenges and temporary factors outlined in Section 3, we would encourage users to apply caution when making short-term comparisons of trade movements. UK goods imports from the EU also peaked in the weeks approaching previous Brexit deadlines in March and October 2019. In comparison, exports to non-EU countries increased by £0.2 billion (1.7%) over the same period. We have worked with the Office for National Statistics (ONS) Data Science Campus to create new estimates using alternative data sources. UK trade in services by industry, country and service type Article | Released 28 February 2020 Presents a new experimental dataset for trade in services by industry, country and service type on a balance of payments basis. Imports of services decreased 2% in January 2021, while exports of services decreased a lesser 1%. The figures show the … ONS Februrary statisics: 12% year-on-year decline in UK exports to the EU. In addition, some of the EU export data will become available slightly more slowly under the new system. This highlights a growing demand for UK goods and services in Ukraine which UK businesses looking to export could benefit from. In order to maintain the quality of the data we have worked with HMRC to ensure our processes are robust and we only reflect changes in the economic trends. In addition, we also need to consider the stronger November and December stockpiling trade figures associated with some commodities and therefore may expect to see an unwinding of stocks from these previous months. Interactive maps denote country boundaries in accordance with statistical classifications set out within Appendix 4 of the Balance of Payments (BoP) Vademecum (PDF, 1.1MB). However, in some cases, alternative estimates of bilateral trade flows are available from the statistical agencies for the relevant countries or through central databases such as UN Comtrade. UK trade in goods by classification of product by activity (CPA 08): Quarter 3 (July to September) 2020 Dataset | Released 16 December 2020 Quarterly and annual time series of the value of UK imports and exports of goods grouped by product. Further data on trade in services will be published at a later date. UK trade: goods and services publication tables Dataset | Released 12 March 2021 Monthly data on the UK's trade in goods and services, including trade inside and outside the EU. You’ve accepted all cookies. Inflation is the change in the average price level of goods and services over a period of time. The decrease in exports of cars to EU countries has been affected most, particularly exports to Germany, Belgium and the Netherlands. The underlying trade in goods deficit widened by £4.0 billion in the three months to January 2021 (Table 2). Meaning that the pound’s weakened state has somehow led to increased competition in exports. In 2016, total estimated service exports from Great Britain amounted to £251 billion, as presented in our previous publication.In Figure 1 we can see the distribution of exports of services from each NUTS3 area across the whole country. There will be small difference in January export estimates although this is unlikely to influence the trend of the movements in January. Falling imports of goods, excluding non-monetary gold and other precious metals, were largely seen in machinery and transport equipment, and chemicals from the EU in January 2021, particularly in imports of cars and medicinal and pharmaceutical products. If you have any comments, please email them to trade@ons.gov.uk. International exports of services from subnational areas of the UK: 2017 (Latest release) Erthygl | Released on 11 September 2019 Experimental estimated value of exports of services for 2017 for NUTS1, NUTS2, NUTS3 and 15 joint authorities, including industry and non-EU and EU split. We will continue to develop these estimates over the coming months and any improvements may result in larger than usual revisions for travel services.
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