UK trade shows import and export activity and is a main contributor to the overall economic growth of the UK. All data are shown on a seasonally adjusted, balance of payments basis, at current prices unless otherwise stated. This UK trade release provides the first estimate for a full quarter of data post the EU referendum.
Between Quarter 2 (April to June) 2016 and Quarter 3 (July to September) 2016, the total trade deficit for goods and services narrowed by £1.6 billion to £11.0 billion. There was a £4.5 billion (6.1%) increase in exports of goods and a £3.1 billion (2.8%) increase in imports of goods; these increases were partially offset by a £0.1 (0.1%) billion decrease in exports of services and a £0.3 (0.7%) billion decrease in imports of services.
Between Quarter 2 2016 and Quarter 3 2016, the deficit on trade in goods narrowed by £1.5 billion to £33.2 billion. Exports increased by £4.5 billion (6.1%) and imports increased by £3.1 billion (2.8%).
Between Quarter 2 2016 and Quarter 3 2016, the UK’s trade in goods deficit with the EU widened by £0.4 billion to £23.8 billion as imports increased more than export. Between Quarter 2 2016 and Quarter 3 2016, the UK’s trade in goods deficit with countries outside the EU narrowed by £1.9 billion to £9.4 billion, attributed to an increase in exports (5.9%).
Between Quarter 2 2016 and Quarter 3 2016, the trade in services surplus widened by £0.2 billion to £22.2 billion, as exports decreased by £0.1 billion and imports decreased by £0.3 billion.
The UK’s deficit on trade in goods and services was estimated to have been £5.2 billion in September 2016, a widening of £1.5 billion from August 2016. Exports decreased by £0.2 billion and imports increased by £1.2 billion.
The deficit on trade in goods was £12.7 billion in September 2016, widening by £1.6 billion from August 2016. This widening reflected a decrease in exports of £0.2 billion to £26.1 billion and an increase in imports of £1.3 billion to a record £38.8 billion. There were increases in imports of ships, material manufactures, road vehicles and oil.
Source: Office for National Statistics licensed under the Open Government Licence v.1.0.