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Trade: Key Economic Indicators

Published Friday, October 7, 2016

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

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In 2015, the UK’s exports of goods and services totalled £509 billion and imports totalled £547 billion. The EU accounted for 44% of exports of goods and services in 2015 and 53% of imports.

Overall, the UK imports more than it exports meaning that it runs a trade deficit. A surplus on trade in services (£88 billion in 2015) is more than offset by a deficit on trade in goods (£126 billion in 2015). The overall trade deficit was £38.6 billion (2.1% of GDP) in 2015. 

The current account, which includes investment income and transfers as well as trade, saw a deficit of £100 billion in 2015, up from £85 billion in 2014. This is an increase from 4.7% to 5.4% of GDP. The 2015 deficit is a record high.



Commons Briefing papers SN02815

Author: Dominic Webb

Topics: Economic situation, International trade

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