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Chapter 07: Rest of the World This product is designated as National Statistics

Released: 31 July 2013 Download PDF

Rest of the World

The rest of the world sector includes all those institutions or individuals not resident in the United Kingdom (UK) which have economic interactions with resident units. It can include overseas corporations, charities, governments or private individuals. The sector also includes foreign embassies and consulates on UK soil.

 

Further information on sector classifications and classification decisions can be found in the National Account Classification section of the Office for National Statistics website.

 

 

Net trade

Net trade represents the difference between UK exports and imports - if exports are greater than imports then the UK is running a trade surplus (positive contribution to GDP), and if imports exceed exports a trade deficit (negative contribution to GDP). Between 2002 and 2012 the UK has been consistently running a trade deficit. In 2012, the trade deficit in current prices was £33.9 billion, increasing 45.7% from £23.3 billion in 2011. 

Figure 7.1: Annual net trade - net exporting (+)/importing (-) at current market prices, 2002 to 2012

This chart shows the annual net trade - net exporting/importing at current market prices, between 2002 and 2012
Source: Office for National Statistics

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Background notes

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    These National Statistics are produced to high professional standards and released according to the arrangements approved by the UK Statistics Authority.

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