New figures show that UK exports to countries outside the EU are now worth £376.7 billion. Facebook. We recently published more information on the Impact of the coronavirus and EU exit on the collection and compilation of UK trade statistics . The total trade deficit, excluding non-monetary gold and other precious metals, narrowed by £3.0 billion in the 12 months to January 2021 (Table 3). Machinery and transport equipment was the most valuable export commodity for the United Kingdom in 2020, with an export value of 114 billion British pounds. Most notably UK exports of medicinal and pharmaceutical products to Ireland increased by 224% in the three months to December 2020 and increased by 283% compared with the same period in 2019. Hide. We are committed to continued alignment with the highest international statistical standards, enabling comparability both over time and internationally, and ensuring the general public, statistical users and decision makers have the data they need to be informed. Users should note that alternative estimates are available, in some cases, through the statistical agencies for bilateral countries or through central databases such as UN Comtrade. We use this information to make the website work as well as possible and improve our services. The largest falls in imports and exports were observed in medicinal and pharmaceutical products traded with EU countries, which reduced by £1.1 billion (57.3%) and £0.6 billion (62.6%). Monthly value of UK exports and imports of goods and services by current price, chained volume measures and implied deflators. Data on non-monetary gold and other precious metals are obtained from the Bank of England (BoE), who provide a balanced figure (exports less imports). For more information about our methods and how we compile these statistics, please see Trade in goods, country-by-commodity experimental data: 2011 to 2016. A large proportion of this is represented by increasing exports to China and Japan in this period. That’s a record high looking back to the early 1990s—as far back as the figures ending in June each year go. Pinterest. Despite the slow start for trade in January 2021, data from the Business insights and impact on the UK economy suggests that importing and exporting began to increase towards the end of January. Further data on trade in services will be published at a later date. The total trade deficit for January 2021, excluding non-monetary gold and other precious metals, narrowed by £3.7 billion to £1.9 billion. International exports of services from subnational areas of the UK: 2017 (Latest release) Erthygl | Released on 11 September 2019 Experimental estimated value of exports of services for 2017 for NUTS1, NUTS2, NUTS3 and 15 joint authorities, including industry and non-EU and EU split. Falling imports of goods in January 2021 were driven by a £6.6 billion (28.8%) fall in imports from the EU (Table 1; Figure 1). Total value of UK exports and imports of goods and services in current prices, chained volume measures and implied deflators. A CVM is a "real" measure in that it has had the effect of inflation removed to measure the change in volume between consecutive periods, fixing the prices of goods and services in one period (the base year). Twitter. The slump in exports was the main driver of a 19.3% fall in UK exports to the world at the start of the year. The widening of the total trade deficit was because imports increased by £2.4 billion (1.7%), while exports decreased by £4.3 billion (3.1%). UK trade time series Dataset MRET | Released 12 March 2021 Monthly value of UK exports and imports of goods and services by current price, chained volume measures (CVMs) and implied deflators (IDEFs). The revision policy for this release has changed to align with the rest of ONS's National Accounts. The data sources that have been used include: the Consumer Prices Index including owner occupiers' housing costs (CPIH), aggregated and anonymised foreign-issued card spend processed through Barclays point-of-sale (POS) and "card-not present" channels. International trade in services by subnational areas of the UK: 2018 Article | Released 10 September 2020 Experimental estimated value of exports and imports of services for 2018 for NUTS1, NUTS2, NUTS3 and 15 city regions, including industry and non-EU and EU split. We welcome feedback on our new trade statistics, developments and future plans. The decrease in exports of cars to EU countries has been affected most, particularly exports to Germany, Belgium and the Netherlands. The data in this bulletin for January 2021 are the first to include trade after the EU exit transition period ended on 31 December. We have now responded to all of the specific requirements of the reassessment of UK trade and, as part of our engagement with the Office for Statistics Regulation team, we are sharing our continuous improvement and development plans to support UK trade statistics regaining National Statistics status. Annual time series data for the UK Balance of Payments. The Scottish Seafood Association says exports to the EU are being hit by "red tape" delays between Scotland and France. In the year to June 2019, the total UK exports to Grenada amounted to £18 million (an increase of 12.5% compared with the previous year) (ONS, 2019). Falling imports of goods were largely seen in machinery and transport equipment, and chemicals from the EU in January 2021. Demand for goods and services. Trade is measured through both exports and imports of goods and services. The decrease in exports of pharmaceutical products to EU countries is likely a consequence of stockpiling in preparation for the end of the EU transition period by the UK's largest medicinal and pharmaceutical product export partners. These increases were consistent with potential stockpiling of goods from the EU in preparation for the end of the EU exit transition period. This is potentially because of stricter checks and certifications implemented by the EU at the end of the transition period. Total value of UK exports and imports of goods and services in current prices, chained volume measures and implied deflators. Data from HMRC are the main data source for trade in goods making up over 90% of trade in goods value. The UK trade methodology web pages have been developed to provide detailed information about the methods used to produce UK trade statistics. Impact of the coronavirus and EU exit on the collection and compilation of UK trade statistics Article | Released 8 March 2021 How the global coronavirus (COVID-19) pandemic and the end of the EU exit transition period impacted on the compilation of UK trade. This reduction in manufacturing, because of the reduction in demand, had a knock-on effect for the export of cars. Falls in exports and imports were largely seen in travel, transportation, and other business services. The IPS was suspended from 16 March 2020 because of the coronavirus (COVID-19) pandemic. Explore the 2020 trade in goods data using our interactive tools. The trade balance is the difference between exports and imports or exports minus imports. Of all UK exports to Grenada 47.8% (£14 million) were goods, and 22.2% (£4 million) were services. Users should note that the data published alongside this release are no longer experimental. In addition to the changes facing the UK after the transition period ended, the UK went into another national lockdown at the beginning of January 2021. In addition, some of the EU export data will become available slightly more slowly under the new system. We present time series data for precious metals as well as total trade excluding this commodity, which may provide a better guide to the emerging trade picture. The slump in exports was the main driver of a 19.3% fall in UK exports to the world at the start of the year. For more information about our methods and how we compile these statistics, please see Trade in goods, country-by-commodity experimental data: 2011 to 2016. This reduction is because of a drop in imports of clothing from China in January 2021, which is likely due to a drop in UK retail sales of clothing because of the national lockdown in place in response to rising COVID-19 cases, coupled with stockpiling of clothing from towards the end of 2020. The Office for National Statistics (ONS) said on Friday that exports to the EU fell by 40.7% in January 2021, equivalent to £5.6bn ($7.8bn) less trade with the bloc. In 2016, total estimated service exports from Great Britain amounted to £251 billion, as presented in our previous publication.In Figure 1 we can see the distribution of exports of services from each NUTS3 area across the whole country. Total imports of goods from non-EU countries, excluding non-monetary gold and other precious metals, fell by £2.4 billion (12.7%) in January 2021 while exports increased by £0.2 billion (1.7%). 54. Goods are attributed to the industry of which they are the principal products. Imports fell £0.3 billion (2.4%) to £10.7 billion and exports fell £0.2 billion (0.9%) to £18.9 billion. These include trade in goods for all countries with the UK, monthly export and import country-by-commodity trade in goods data, and revisions triangles for monthly trade data. In its report on UK trade in January 2021, the Office of National Statistics (ONS) has stated that the UK’s exports to the EU collapsed by 40.7% – representing a loss to the economy of £5.6 billion. Goods are attributed to the activity of which they are the principal products. We attribute the balanced data to either exports or imports, depending on whether the data are positive (that is, exports are greater than imports) or negative (that is, exports are less than imports) respectively. Meaning that the pound’s weakened state has somehow led to increased competition in exports. Figures are forecast using a combination of sources including Index of Services (IOS), International Passenger Survey (IPS) and Business Impact of COVID-19 Survey (BICS), and are therefore likely to be revised. An IDEF shows the implied change in average prices for the respective components of the trade balance, for example, the IDEF for imports will show the average price movement for imports. Select a commodity from the drop-down menu or click through the levels to explore the data. New figures from the Office for National Statistics show that the number of SMEs exporting to overseas markets has increased by 6.6% to 232,000 (9.8% of all SMEs), a vindication of the work being done by the government and industry in raising the awareness of the opportunities in international trade. Car manufacturing for export markets fell by 29.1% in January 2021 compared with January 2020, representing the 17th month of decline in UK outputs. In accordance with the National Accounts Revisions Policy, the data in this release have not been revised and only includes new data for January 2021. Impacts of the Coronavirus on UK trade: December, Trade in services by modes of supply, UK: 2019, International trade in services by subnational areas of the UK: 2018, UK trade in goods by business characteristics, UK trade in goods by industry, country and commodity: 2008 to 2018, UK services trade by business characteristics, UK trade in services by industry, country and service type. This means they have not been adjusted to remove the effects of inflation. Falling imports of goods, excluding non-monetary gold and other precious metals, were largely seen in machinery and transport equipment, and chemicals from the EU in January 2021, particularly in imports of cars and medicinal and pharmaceutical products. 0. Imports of miscellaneous manufactures, which includes clothing, fell by £1.9 billion (28.3%) in January 2021. We have worked with the Office for National Statistics (ONS) Data Science Campus to create new estimates using alternative data sources. Imports of clothing from non-EU countries fell by £0.2 billion (34.8%) to £0.8 billion: the same value as seen at the beginning of the coronavirus (COVID-19) pandemic in April 2020. This release incorporates data collected from the quarterly ITIS survey, which is sent to around 2,200 businesses. In contrast to the falling exports to the EU, exports of medicines and pharmaceutical products to non-EU countries increased by £0.3 billion in January 2021. The ONS has worked closely with HMRC to prepare for the change in collection of customs data which occurred at the end of the transition period. The consignment sign off is reportedly taking six times longer, and previously overnight transit of goods to France is reportedly now taking three days. Impacts of the Coronavirus on UK trade: December 2020 Article | Released 2 December 2020 The impacts of the coronavirus (COVID-19) on UK trade, with a focus on trade in services. Non-monetary gold comprises the majority of this group and is the technical term for gold bullion not owned by central banks. Goods are attributed to the activity of which they are the principal products. The proportion of businesses reporting that they were unable to export decreased by 5.4 percentage points between the reporting periods 11 January to 24 January and 25 January to 2 February. In January 2021 export and import fuel prices increased 7.4% and 5.3% respectively on the month, however fuel prices remain lower than their pre-pandemic level and are still 20.3% and 14.2% lower respectively than January 2020. UK exports of food and live animals to the EU plunged in January, the first month since the end of the Brexit transition period, ONS figures show. Falling exports of goods in January 2021 is because of a £5.6 billion (40.7%) fall in exports to the EU (Table 1; Figure 1). Britain does a substantial amount of trade with the Netherlands and it has been claimed that this exaggerates the significance of UK trade with the EU. In order to maintain the quality of the data we have worked with HMRC to ensure our processes are robust and we only reflect changes in the economic trends. Imports and exports of chemicals fell by £1.7 billion (30.1%) and £1.2 billion (25.2%) respectively in January 2021 (Figure 2). We are undertaking a programme of improvements to UK trade statistics in line with the UK trade development plan, including more detail and improvements now published to address anticipated future demands. Trade in goods and services across the UK's international borders, including total imports and exports, the types of goods and services traded and general trends in international trade. The total trade balance, excluding non-monetary gold and other precious metals, decreased by £3.2 billion to a deficit of £1.2 billion in the three months to April 2020, as exports fell £33.1 billion and imports fell by a lesser £29.9 billion. We continue to review and refine these methods, along with the associated survey methods, to ensure the data are as robust as possible. More information about the ONS's recording of non-monetary gold is available. Imports from the EU also suffered, declining by 28.8% or £6.6bn. Data from the International Passenger Survey (IPS) are the main source for travel services, making up around 8% of total trade. The trade in services surplus widened by £0.1 billion to £8.2 billion in the month of January. Data are supplied by over 30 sources including several administrative sources, with HMRC being the largest for trade in goods. Including precious metals, the total trade deficit widened by £6.8 billion to £14.5 billion in the three months to January 2021. The economic ownership approach is far from the last word in measuring the value of trade. Seafood exports were the hardest hit following meat exports which was down 59% and dairy exports are down 50%. Increases in trade in goods imports were largely seen in machinery and transport equipment and chemicals. In line with international standards, the ONS's headline trade statistics contain the UK's exports and imports of non-monetary gold. Total imports of machinery and transport equipment fell by £3.3 billion (21.9%) in January 2021, driven by a £2.6 billion (30.0%) fall in imports from the EU (Figure 2). EU: £662.1bn ( -0.4%) Non-EU: £744.0bn (h 8.7%) Source: ONS Balance of Payments (July to September 2020) 2020** While January 2021 saw falls in imports and exports these were offset by increasing imports and exports in November and December 2020. This was the first month after the Brexit transition ended, with customs rules changing and firms contending with extra paperwork. When the value of exports is greater than the value of imports, the trade balance is in surplus. The share of UK exports accounted for by the EU has generally fallen over time from 54% in 2002 to 43% in 2019. A handy guide to let you know where to find local statistics. In comparison, exports to non-EU countries increased by £0.2 billion (1.7%) over the same period. Further information on our proposals will be made available later this year. UK goods exports to the European Union fell 40.7% in January, according to the Office for National Statistics (ONS), while imports tumbled 28.8%. More quality and methodology information on strengths, limitations, appropriate uses, and how the data were created is available in the UK trade QMI. Considering the challenges with data collection from social distancing measures put in place because of coronavirus (COVID-19), we have experienced challenges around the level of survey and data returns for this trade release. Take, for example, the export of a UK-made car worth £20,000. As the transition period has ended and the UK has now entered into a new Trade and Cooperation Agreement with the EU, the UK statistical system will continue to produce and publish our wide range of economic and social statistics and analysis. UK trade in services by industry, country and service type Article | Released 28 February 2020 Presents a new experimental dataset for trade in services by industry, country and service type on a balance of payments basis. Inflation is the change in the average price level of goods and services over a period of time. Trade has not been typical in recent months and, because of the practical challenges and temporary factors outlined in Section 3, we would encourage users to apply caution when making short-term comparisons of trade movements. In line with international standards, the ONS's headline trade statistics contain the UK's exports and imports of non-monetary gold. If however, £8,000 worth of the components for that car are imported, then the £20,000 figure is likely to overstate the true value of the export. This coupled with reported difficulties for EU countries accessing the primarily UK produced AstraZeneca vaccine may have led to this reduction in exports to the EU. Imports from the Netherlands, Germany and Belgium accounted for 76.2% of the UK's total decrease in imports of chemicals in January 2021. These data are our best estimate of these bilateral UK trade flows. Imports of precious metals increased by £0.4 billion (22.3%) in the three months to January 2021, while exports increased by £0.3 billion (1806.7%). Select a country by hovering over it or using the drop-down menu. Similarly, the proportion of businesses reporting they were unable to import decreased by 3.0 percentage points between the same reporting periods. View latest release. Imports of goods, excluding non-monetary gold and other precious metals, fell by £8.9 billion (21.6%) in January 2021, driven by a £6.6 billion (28.8%) fall in imports from the EU. This trade agreement provides lower non-tariff barriers for the trade of pharmaceuticals and medical devices; it may serve to facilitate increasing trade with the UK's largest trading partners in the region, China and Japan. In 2019, UK exports to the EU were £294 billion (43% of all UK exports). Users should note that the data published alongside this release are official statistics and no longer experimental. An exception to this was trade in fuels, which saw price increases in January following an erratic 2020 picture. Data from the ITIS survey make up over 50% of trade in services data. In both current price and chained volume measures, these falls in imports and exports are the largest monthly falls since records began in January 1997. The Office for National Statistics (ONS) said on Friday that exports to the EU fell by 40.7% in January 2021, equivalent to £5.6bn ($7.8bn) less trade with the bloc. Explore the UK's trade relationships through interactive maps, charts and analysis. ONS UK Trade (December 2020) of which (as % change since 2019): Imports: £581.3bn ( -18.9%) Exports: £571.7bn ( -17.1%) Goods: £739.0bn ( -15.7%) Services: £414.0bn ( -21.8%) Source: ONS UK Trade (December 2020) 2019. We will continue to develop these estimates over the coming months and any improvements may result in larger than usual revisions for travel services. Imports of goods from the EU were stockpiled in November and December 2020, with decreases in imports in January 2021 being consistent with an unwinding of stockpiling. You can change your cookie settings at any time. Hide. The Office for National Statistics (ONS) said on Friday that exports to the EU fell by 40.7% in January 2021, equivalent to £5.6bn ($7.8bn) less trade with the bloc. In addition, we also need to consider the stronger November and December stockpiling trade figures associated with some commodities and therefore may expect to see an unwinding of stocks from these previous months. We have used information from other surveys alongside expert guidance to implement these methods and quality assure the data. The fall in both exports and imports in the three months to April 2020 was mainly driven by trade in services, which saw falls of £19.5 billion and £18.1 billion respectively. There was evidence of stockpiling for these commodities at the end of 2020, ahead of the end of the EU exit transition period, and the falls seen in the month of January 2021 are likely because of trade being brought forward. This highlights a growing demand for UK goods and services in Ukraine which UK businesses looking to export could benefit from. While the month-on-month trade movements show falls for January, our faster indicators data help give further insight of the weekly and fortnightly movements throughout January. UK exports. Source: ONS 2016, Regionalised estimates of UK service exports; HMRC 2016, Regional Trade Statistics; ONS 2016, Business Register of Employment Survey. You’ve accepted all cookies. The UK Statistics Authority suspended the National Statistics designation of UK trade on 14 December 2014. All content is available under the Open Government Licence v3.0, except where otherwise stated, /businessindustryandtrade/internationaltrade, Total Trade (TT): WW: Balance: BOP: CP: SA, UK services trade by business characteristics, Total Trade (TT): WW: Imports: BOP: CP: SA, Total Trade (TT): WW: Exports: BOP: CP: SA, Trade in Goods (T): EU: Balance: BOP: CP: SA, Trade in Goods: EMU(19): Balance: BOP: CP: SA, Trade in Goods (T): Non-EU: Balance: BOP: CP: SA, View all time series related to International trade, UK trade in goods by classification of product by activity time series, UK Balance of Payments - The Pink Book time series, Trade in goods: all countries, seasonally adjusted, View all datasets related to International trade, UK Trade in Goods by Classification of Product by Activity CPA(08): Quarter 2 (April to June) 2015, International trade in services, UK: 2018. The total trade deficit, excluding non-monetary gold and other precious metals, widened by £6.7 billion to £12.8 billion in the three months to January 2021; imports increased by £2.4 billion (1.7%), while exports decreased by £4.3 billion (3.1%). Breakdown of UK trade in services by business characteristics (size and ownership), industry and region, on a balance of payments basis using a new experimental dataset. WhatsApp. Users should note that alternative estimates are available, in some cases, via the statistical agencies for bilateral countries or through central databases such as UN Comtrade. Multiple factors may have contributed to this decrease in imports of cars in January, including: disruption in the lead up to the end of the UK-EU transition period, stockpiling in the lead up to the end of the UK-EU transition period, the ongoing impact of the pandemic including reduced demand associated with the national lockdown in the UK. Because a significant amount of the world's trade in non-monetary gold takes place on the London markets, this trade can have a large impact on the size of and change in the UK's headline trade figures. Interactive maps denote country boundaries in accordance with statistical classifications set out within Appendix 4 of the Balance of Payments (BoP) Vademecum (PDF, 1.1MB). Google+. The decline in exports of cars is likely also linked to a fall in demand and reduced car manufacturing. Exports of goods, excluding non-monetary gold and other precious metals, fell by £5.3 billion (19.3%) in January 2021, because of a £5.6 billion (40.7%) fall in exports to the EU. In this month's bulletin we focus heavily on monthly trends, however, it should be noted that monthly data are erratic and small movements in these series should be treated with caution.