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For additional information relating to this article, please contact:

Thomas Storring	Director – Economics and Statistics
Tel: 902-424-2410	Email: thomas.storring@novascotia.ca

November 09, 2018
UK TRADE BALANCE SEPTEMBER 2018

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

 

Month-over-month

In September 2018,

• the UK seasonally adjusted goods & services trade deficit narrowed by £2.1 billion to £27 million.
• Exports of goods and services increased 1.2% (£0.7 billion to £55.0 billion while,
• Imports of goods and services decreased 2.5% (£1.4 billion to £55.0 billion.

 

In September 2018,

• Exports of goods increased 1.7% (£0.512 billion) to £30.6 billion while
• Imports of goods decreased 3.5% (£1.481 billion) to £40.3 billion.
• The resulting goods deficit narrowed by 17.0% (£1.993 billion) to £9.7 billion.

In September 2018,

• Exports of services increased 0.6% (£0.154 billion) to £24.3 billion while
• Imports of services increased 0.5% (£0.073 billion) to £14.6 billion.
• The resulting goods surplus widened by 0.8% (£0.081 billion) to £9.7 billion.

 

Year-to-date Goods Trade by Sector

In Jan-Sep 2018,

• Machinery & transport equip sector, accounting for 40% of goods exports, increased 3.5% (£3.6 billion) to £106.0 billion.
• Chemicals sector, accounting for 16% of goods exports, decreased 1.9% (£0.8 billion) to £43.1 billion.
• Misc. finished manufactures sector, accounting for 14% of goods exports, increased 1.2% (£0.4 billion) to £36.1 billion.
• Fuels sector, accounting for 10% of goods exports, increased 20.4% (£4.6 billion) to £27.1 billion.
• Material manufactures sector, accounting for 9% of goods exports, increased 7.3% (£1.7 billion) to £24.7 billion.
• Food sector, accounting for 4% of goods exports, increased 2.6% (£0.3 billion) to £11.5 billion.
• Beverages & tobacco sector, accounting for 2% of goods exports, increased 3.8% (£0.2 billion) to £6.1 billion.
• Crude Materials sector, accounting for 2% of goods exports, increased 3.1% (£0.2 billion) to £5.7 billion.
• Unspecified goods sector, accounting for 1% of goods exports, decreased 22.9% (£0.7 billion) to £2.2 billion.
• Animal/vegetable/oils & fats sector, accounting for 0.2% of goods exports, increased 8.1% (£0.031 billion) to £0.4 billion.

 

Trade with EU(28) and nonEU(28) countries

  

In September 2018,

• goods exports with non-European Union countries increased 5.0% (£0.763 billion) to £16.2 billion, while
• goods imports from non-EU28 countries decreased 7.3% (£1.455 billion) to £18.5 billion.
• The resulting goods deficit narrowed by 48.6% (£2.218 billion) to £2.3 billion.

 In September 2018,

• goods exports to the European Union (EU28) decreased 1.7% (£0.251 billion) to £14.4 billion, while
• goods imports from the European Union decreased 0.1% (£0.026 billion) to £21.8 billion.
• The resulting goods deficit widened by 3.1% (£0.225 billion) to £7.4 billion.

 

 

Source: UK Office for National Statistics, Statistical Bulletin |  Time Series | Time Series Explorer

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