UK exports: total trade value 2012-2022
International trade is one of the most pressing topics on the UK’s Brexit checklist. With no definitive EU deal in immediate sight, it is not just the UK-EU trade that is at stake, but also the continuity of a number of trade agreements with third countries that take effect automatically with EU membership. It is fair to say that this uncertainty surrounding the UK’s international trade will not help the fluctuations experienced in the UK’s goods export as displayed in this statistic.
UK exports in and outside the EU
Since 2008, the UK ships more goods to non-EU countries than EU27. Nevertheless, even with its shrinking share in UK exports, the EU market accounts for the largest proportion of UK trade. This becomes more apparent when we look at the UK’s export trade partners as individual countries.
Trade balance swings
The UK is among the top exporting economies in the world, yet the country’s trade balance seems to be widening. In the first quarter of 2019, the UK’s trade deficit was the largest since 2016. This was down to increasing import activity, as export of trade goods still continued to improve over this period of time.
UK exports in and outside the EU
Since 2008, the UK ships more goods to non-EU countries than EU27. Nevertheless, even with its shrinking share in UK exports, the EU market accounts for the largest proportion of UK trade. This becomes more apparent when we look at the UK’s export trade partners as individual countries.
Trade balance swings
The UK is among the top exporting economies in the world, yet the country’s trade balance seems to be widening. In the first quarter of 2019, the UK’s trade deficit was the largest since 2016. This was down to increasing import activity, as export of trade goods still continued to improve over this period of time.
