UK Trade, December 2015

10 Feb 2016 11:20 AM

Main points for December 2015

• UK trade shows import and export activity and is a main contributor to the overall economic growth of the UK. All data are shown on a seasonally adjusted, balance of payments basis, at current prices unless otherwise stated.
• The December 2015 UK trade release is the first opportunity to analyse 2015 as a whole. The UK’s annual trade deficit reached £34.7 billion in 2015; a widening of £0.3 billion from 2014. Over the same period, the goods deficit widened by £1.9 billion to £125.0 billion. The widening was partially offset by an increase in the services surplus, which rose by £1.5 billion to £90.3 billion.
• The UK’s deficit on trade in goods and services was estimated to have been £2.7 billion in December 2015, a narrowing of £1.3 billion from November 2015. The narrowing is attributed to trade in goods where the deficit has narrowed from £11.5 billion in November 2015, to £9.9 billion in December 2015.
• Between November 2015 and December 2015, the trade in goods narrowing was mainly the result of a fall in the import of goods of £1.7 billion to £33.0 billion; mainly reflecting a fall in imports of unspecified goods, which decreased by £1.0 billion to £0.4 billion.
• In quarter 4 (October to December) 2015, the UK’s deficit on trade in goods and services was estimated to have been £10.4 billion; widening by £1.8 billion from quarter 3 (July to September) 2015.
• Between quarter 3 (July to September) 2015 and quarter 4 (October to December) 2015, the trade in goods deficit widened by £0.9 billion to £32.7 billion. This widening reflects a £0.5 billion fall in the exports of goods and a £0.4 billion rise in imports.
• Between quarter 3 (July to September) 2015 and quarter 4 (October to December) 2015, the trade in services surplus narrowed by £0.9 billion to £22.4 billion.

Get all the tables for this publication in the data section of this publication.