United Kingdom total trade value 2016-2023
Since the first quarter of 2016, the total trade deficit of the UK has widened, most notably in the first half of 2022. As of the second quarter of 202 the UK's trade balance reached 19 billion British pounds.
UK’s EU and non-EU trade
UK runs a trade deficit with the EU, but this is not the case regarding trade with countries outside the European Union. Since 2012, the value of UK goods exported to non-EU countries has persistenly been greater than imports made from these countries, resulting in a healthy trade surplus.
International UK trade after Brexit
Following the Brexit referendum of 2016,the UK government has sought to renew a number of trade agreements that come automatically with EU membership, such as Free Trade Agreements (FTA) and Economic Partnership Agreements (EPA).
UK’s EU and non-EU trade
UK runs a trade deficit with the EU, but this is not the case regarding trade with countries outside the European Union. Since 2012, the value of UK goods exported to non-EU countries has persistenly been greater than imports made from these countries, resulting in a healthy trade surplus.
International UK trade after Brexit
Following the Brexit referendum of 2016,the UK government has sought to renew a number of trade agreements that come automatically with EU membership, such as Free Trade Agreements (FTA) and Economic Partnership Agreements (EPA).
