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For additional information relating to this article, please contact:

Thomas Storring Director of Economics/Statistics
Tel: 902-424-2410Email: Thomas.Storring@novascotia.ca

February 12, 2018
UK TRADE BALANCE DECEMBER AND ANNUAL 2017

DECEMBER

 UK import and export trade is a main contributor to the overall economic growth of the UK.

In December 2017,

  • the UK seasonally adjusted goods and services balance of trade deficit increased  by £1.2 billion to £4.9 billion from November 2017;
  • the main contributor to the increased deficit was the 3.8% (£1.6 billion) increase in imports of trade in goods and services to £42.6 billion.

 

In December 2017, goods exports increased £442 million to £29.0 billion while goods imports increased £1.6 billion to £42.6 billion. The resulting goods deficit increased to £13.6 billion.

In December 2017, services exports increased £18 million to £23.1 billion and services imports increased £106 million to £14.4 billion. The resulting services surplus decreased to £8.7 billion.

 

 

 

Trade with Canada

 

In December 2017, goods exports with Canada increased £9 million to £431 million, and goods imports from Canada increased £5 million, to £478 billion. The resulting goods deficit with Canada decreased to £47 million.

  

Trade with EU and nonEU Countries

In December 2017, goods exports with European Union countries (EU28) increased to £1494 billion, and goods imports from EU28 countries increased to £23.3 billion. The resulting goods deficit with EU28 countries increased to £8.4 billion.

In December 2017, goods exports with non-European Union countries  decreased £522 million to £14.1 billion, and goods imports from non-EU28 countries increased £149 million to £19.3 billion. The resulting goods deficit with non-EU28 countries increased £671 million to £5.2 billion.

 

ANNUAL 1998-2017

 

In 2017 the UK seasonally adjusted goods and services balance of trade deficit decreased  by £7 billion to £33.7 billion over 2016;

 

In 2017, goods exports increased to £342.5 billion while goods imports increased to £480.5 billion. The resulting goods deficit increased to £138 billion.

In 2017, services exports increased to £274.8 billion and services imports increased to £170.4 billion. The resulting services surplus increased to £104.3 billion.

 

 

Trade with Canada 1998-2017

 

In 2017, goods exports to Canada increased  to £5.2 billion, and goods imports from Canada increased to £5.6 billion. The resulting goods deficit with Canada decreased to £346 million.

  

Source: UK Office for National Statistics, Statistical Bulletin  |   Short term Indicators

Time Series



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