United Kingdom (UK) trade balance with European Union 1999-2019

The United Kingdom imports more services and goods from the European Union than exporting them. Although this has been the case since at least 1999, from 2016 onwards the UK-EU trade balance has been more pronounced as the present statistic lays out. When it comes to the UK’s trade with non-EU countries, the picture is decidedly different. Since 2012, the value of UK exports to non-EU countries was higher than the imports, which resulted in a trade surplus.

US biggest export market, but EU weighs heavier

As of 2018, the UK’s largest export market was outside the European Union. Yet taken as a bloc, the European Union still accounts for a large chunk of the UK’s international trade. Among these, Germany, the Netherlands, and France rank as the main export partners of the UK.

UK economy without the EU

Brexit looms large over the United Kingdom. Yet the many unknowns of the UK’s withdrawal from the EU cast the longest shadow on the future of the UK’s international trade without the benefit of the single market. In the short-term, the predicted impact of Brexit on British economy is indeed not to be underestimated. So much depends on the withdrawal agreement, or rather its fate at the hands of Westminster.

Trade balance of the United Kingdom (UK) with the European Union from 1999 to 2019

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Source

Release date

March 2020

Region

United Kingdom

Survey time period

1999 to 2019

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Statistics on "Trade in the UK"

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