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April 10, 2019UK TRADE BALANCE, FEBRUARY 2019 UK import and export trade are a main contributor to the overall economic growth of the UK.
Month-over-month
In February 2019, the UK seasonally adjusted goods & services trade deficit narrowed by £0.5 billion to £4.9 billion. Exports of goods and services increased 0.1% (£0.0.67 billion) to £54.8 billion while Imports of goods and services decreased 0.7% (£0.4 billion) to £59.7 billion.
In February 2019, Exports of goods increased 0.3% (£0.087 billion) to £30.0 billion while Imports of goods decreased 1.0% (£0.424 billion) to £44.1 billion. The resulting goods deficit narrowed by 3.5% (£0.511 billion) to £14.1 billion.
In February 2019, Exports of services decreased 0.1% (£0.020 billion) to £24.8 billion while Imports of services increased 0.04% (£0.006 billion) to £15.5 billion. The resulting services surplus narrowed by 0.3% (£0.026 billion) to £9.3 billion.
UK International Trade EU and Non-EU
In February 2019, goods exports with non-European Union countries decreased 1.2% (£0.180 billion) to £14.6 billion, while goods imports from non-EU28 countries decreased 4.2% (£0.897 billion) to £20.5 billion. The resulting goods deficit narrowed by 10.9% (£0.717 billion) to £5.8 billion.
In February 2019, goods exports to the European Union (EU28) increased 1.8% (£0.267 billion) to £15.4 billion, while goods imports from the European Union increased 2.0% (£0.473 billion) to £23.7 billion. The resulting goods deficit widened by 2.6% (£0.206 billion) to £8.3 billion.
Year-to-date Goods Export Trade by Sector
EXPORTS
In Jan-Feb 2019,
- Machinery & transport equip sector, accounting for 41% of goods exports, increased 4.3% (£1.0 billion) to £24.4 billion.
- Chemicals sector, accounting for 17% of goods exports, increased 1.7% (£0.2 billion) to £10.0 billion.
- Miscellaneous finished manufactures sector, accounting for 14% of goods exports, increased 3.9% (£0.3 billion) to £8.3 billion.
- Fuels sector, accounting for 10% of goods exports, increased 14.2% (£0.8 billion) to £6.1 billion.
- Material manufactures sector, accounting for 9% of goods exports, decreased 2.8% (£0.2 billion) to £5.3 billion.
- Food sector, accounting for 5% of goods exports, increased 11.8% (£0.3 billion) to £2.8 billion.
- Beverages & tobacco sector, accounting for 3% of goods exports, increased 16.8% (£0.2 billion) to £1.5 billion.
- Crude Materials sector, accounting for 2% of goods exports, increased 4.5% (£0.1 billion) to £1.3 billion.
- Unspecified goods sector, accounting for 0.3% of goods exports, decreased 41.5% (£0.1 billion) to £0.2 billion.
- Animal/vegetable/oils & fats sector, accounting for 0.2% of goods exports, increased 22.5% (£0.018 billion) to £0.1 billion.
Source: UK Office for National Statistics, Statistical Bulletin | Time Series | Time Series Explorer
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