The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.

<--- Return to Archive

For additional information relating to this article, please contact:

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

August 09, 2019
UK TRADE BALANCE, JUNE 2019

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

Month-over-month

In June 2019, the UK seasonally adjusted goods & services trade surplus switched from deficit to surplus (first surplus since February 2011) by £3.8 billion to £1.8 billion. Exports of goods and services increased 4.5% (£2.4 billion) to £55.4 billion while, Imports of goods and services decreased 2.6% (£1.4 billion) to £53.6 billion.

In June 2019, Exports of goods increased 7.6% (£2.2 billion) to £31.7 billion while Imports of goods decreased 3.6% (£1.5 billion) to £38.7 billion. The resulting goods deficit narrowed by 34.5% (£3.7 billion) to £7.0 billion.

In June 2019, Exports of services increased 0.6% (£0.144 billion) to £23.7 billion while Imports of services increased 0.33% (£0.049 billion) to £14.9 billion. The resulting services surplus widened by 1.1% (£0.095 billion) to £8.8 billion.

UK International Trade EU and Non-EU

In June 2019, Exports of goods with non-European countries increased 17.8% (£2.695 billion) to £17.8 billion while Imports of goods from non-EU28 countries decreased 6.2% (£1.188 billion) to £18.0 billion. The resulting goods deficit narrowed by   95.4% (£3.883 billion) to £0.2 billion.

In June 2019, Exports of goods with European countries decreased 3.3% (£0.469 billion) to £13.9 billion while Imports of goods from EU28 countries decreased 1.3% (£0.272 billion) to £20.7 billion. The resulting goods deficit widened by  3.0% (£0.197 billion) to £6.8 billion.

 

Year-to-date Goods Export Trade by Sector

In Jan-Jun 2019,

• Machinery & transport equip sector, accounting for 39% of goods exports, increased 1.8% (£1.3 billion) to £70.5 billion.
• Chemicals sector, accounting for 16% of goods exports, decreased 3.0% (£0.9 billion) to £28.2 billion.
• Miscellaneous finished manufactures sector, accounting for 15% of goods exports, increased 12.5% (£3.0 billion) to £26.9 billion.
• Fuels sector, accounting for 10% of goods exports, increased 10.1% (£1.7 billion) to £18.7 billion.
• Material manufactures sector, accounting for 9% of goods exports, increased 2.3% (£0.4 billion) to £16.7 billion.
• Food sector, accounting for 4% of goods exports, increased 6.0% (£0.5 billion) to £8.0 billion.
• Beverages & tobacco sector, accounting for 2% of goods exports, increased 9.6% (£0.4 billion) to £4.4 billion.
• Crude Materials sector, accounting for 2% of goods exports, increased 3.1% (£0.1 billion) to £3.9 billion.
• Unspecified goods sector, accounting for 1.7% of goods exports, increased 145.5% (£1.8 billion) to £3.0 billion.
• Animal/vegetable/oils & fats sector, accounting for 0.1% of goods exports, decreased 2.3% (£0.006 billion) to £0.3 billion.

 

Year-to-date Goods Import Trade by Sector

In Jan-Jun 2019,

• Machinery & transport equip sector, accounting for 36% of goods imports, increased 4.2% (£3.7 billion) to £91.6 billion.
• Miscellaneous finished manufactures sector, accounting for 15% of goods imports, increased 7.8% (£2.8 billion) to £39.1 billion.
• Chemicals sector, accounting for 11% of goods imports, increased 2.4% (£0.7 billion) to £29.6 billion.
• Material manufactures sector, accounting for 11% of goods imports, increased 6.6% (£1.8 billion) to £28.5 billion.
• Fuels sector, accounting for 10% of goods imports, decreased 4.9% (£1.3 billion) to £25.1 billion.
• Food sector, accounting for 8% of goods imports, increased 4.4% (£0.9 billion) to £20.3 billion.
• Unspecified goods sector, accounting for 5% of goods imports, increased 322.7% (£10.2 billion) to £13.3 billion.
• Crude Materials sector, accounting for 2% of goods imports, increased 6.0% (£0.3 billion) to £5.4 billion.
• Beverages & tobacco sector, accounting for 2% of goods imports, increased 8.4% (£0.3 billion) to £4.4 billion.
• Animal/vegetable/oils & fats sector, accounting for 0.3% of goods imports, decreased 0.6% (£0.004 billion) to £0.7 billion.

 

Year-to-date Goods Net Trade by Sector

In Jan-Jun 2019,

• Machinery & transport equip sector, accounting for 27% of net goods trade, increased 12.8% (£2.4 billion) to -£21.1 billion.
• Food sector, accounting for 16% of net goods trade, increased 3.4% (£0.4 billion) to -£12.3 billion.
• Miscellaneous finished manufactures sector, accounting for 16% of net goods trade, decreased 1.1% (£0.1 billion) to -£12.2 billion.
• Material manufactures sector, accounting for 15% of net goods trade, increased 13.4% (£1.4 billion) to -£11.8 billion.
• Unspecified goods sector, accounting for 13% of net goods trade, increased 435.3% (£8.4 billion) to -£10.3 billion.
• Fuels sector, accounting for 8% of net goods trade, decreased 32.1% (£3.0 billion) to -£6.4 billion.
• Crude Materials sector, accounting for 2% of net goods trade, increased 14.1% (£0.2 billion) to -£1.5 billion.
• Chemicals sector, accounting for 2% of net goods trade, decreased 843.8% (£1.6 billion) to -£1.4 billion (surplus to deficit).
• Animal/vegetable/oils & fats sector, accounting for 1% of net goods trade, increased 0.4% (£0.002 billion) to -£0.4 billion.
• Beverages & tobacco sector, accounting for 0% of net goods trade, decreased 107.3% (£0.04 billion) to £0.003 billion (deficit to surplus).

 

 

 

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

 

<--- Return to Archive