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Summary: UK Trade, December 2013

Released: 07 February 2014 Download PDF

Figure 1: Balance of UK Trade

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

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The deficit of trade in goods and services for December 2013 was £1.0 billion, compared with a deficit of £3.6 billion in the previous month. The deficit on trade in goods was £7.7 billion in December 2013; the trade position reflects exports minus imports.

Exports of goods increased by 1.9% between December and November 2013 to £25.0 billion. Imports for the same period decreased by 4.7% to £32.8 billion.

In December 2013, exports of goods to countries outside of the EU increased by £0.1 billion to £12.6 billion. Imports from countries outside of the EU decreased by £0.7 billion to £14.8 billion, the lowest since May 2010. The fall is mainly attributable to the import of transport equipment; primarily aircraft and ships.

The availability of 2013 as a whole provides an opportunity to look at the movements and changes within trade in goods particularly since the economic recovery began in 2010. Over the last three years the value of exports has risen by 14.7% and similarly, imports have risen by 13.4%. During this time all key commodities have moved positively in both the export and import markets.

Source: Office for National Statistics

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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