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Summary: UK Trade, April 2014

Released: 06 June 2014 Download PDF

Figure 1: Balance of UK Trade

Figure 1: Balance of UK Trade
Source: Office for National Statistics

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Correction Notice

This release was updated at 9.30am on 26 June 2014 to reflect the oil exports omission that users were informed of in the orginal April 2014 UK Trade bulletin published on 6 June 2014.

Summary

The deficit of trade in goods and services for April 2014 was £1.8 billion, compared with £1.1 billion in the previous month. The deficit on trade in goods was £8.9 billion in April 2014; the trade position reflects exports minus imports.

Exports of goods decreased by 1.5% between March and April 2014 to £24.1 billion, reflecting a decrease in exports of semi-manufactured goods of £0.3 billion. Within semi-manufactured goods, exports of chemical manufactures fell by £0.2 billion and exports of material manufactures fell by £0.1 billion.

Imports of goods for the same period increased by 0.8% to £33.0 billion. The rise reflects increases in almost all key commodities, notably imports of food, beverages and tobacco which rose by £0.1 billion between March and April. Imports of manufactured goods were generally quiet in April, rising marginally from March due to several offsetting movements at a lower commodity level.  Imports of ships was the most significant increase at this level with a monthly movement of £0.2 billion. This was attributed entirely to trade with countries outside the EU where the import level of ships reached a record high of £0.3 billion in April 2014.

In April 2014, exports of goods to the European Union (EU) increased by £0.2 billion to £12.4 billion, reflecting an increase of £0.1 billion in finished manufactures. Imports from the EU increased by £0.4 billion to £17.5 billion, reflecting increases in imports of manufactured goods (specifically chemicals) and food beverages and tobacco.

In April 2014, exports of goods to countries outside of the EU decreased by £0.5 billion to £11.7 billion, due mainly to widespread falls in exports of manufactured goods.  Imports from countries outside of the EU decreased by £0.2 billion to £15.5 billion, reflecting falls in imports of manufactured goods and fuels.

Source: Office for National Statistics

Background notes

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