House of Commons Library

Trade: Key Economic Indicators

Published Friday, November 10, 2017

Latest statistics on UK's trade performance and balance of payments.

Jump to full report >>

In 2016, the UK’s exports of goods and services totalled £547 billion and imports totalled £590 billion. The EU accounted for 43% of UK exports of goods and services and 54% of imports.

Overall, the UK imports more than it exports meaning that it runs a trade deficit. A surplus on trade in services is outweighed by a deficit on trade in goods. The overall trade deficit was £43.0 billion in 2016 (2.2% of GDP). 

Over the three months to September, the trade deficit was £9.5 billion compared with £6.5 billion in the previous three months.


The current account, which includes investment income and transfers as well as trade, saw a deficit of £115.5 billion in 2016, compared with £98.1 billion in 2015. The current account deficit was 5.9% of GDP in 2016 compared with 5.2% in 2015.

The current account deficit was £23.2 billion in Q2 2017 (4.6% of GDP), up from £22.3 billion (4.4% of GDP) in Q1 2017.



Commons Briefing papers SN02815

Author: Dominic Webb

Topics: Economic situation, International trade

Share this page

Stay up to date

  • Subscribe to RSS feed Subscribe to Email alerts Commons Briefing papers

House of Commons Library

The House of Commons Library provides research, analysis and information services for MPs and their staff.