https://commonslibrary.parliament.uk/re ... %20deficit.853 wrote: ↑12 Apr 2024, 2:28pmAl, could you supply a link to the figures please, so the cynics amongst us can see the figures? Thanksal_yrpal wrote: ↑12 Apr 2024, 1:21pm Britain has become the world's fourth largest exporter, fresh figures have shown - despite warnings that international trade would fall off a cliff following Brexit.
The UK has shot up from its previous ranking of seventh in 2021, United Nations data has shown, rising three places in 2022, the most recent year available.
In doing so, it has overtaken France, the Netherlands and Japan in the UN Conference on Trade and Development (UNCTAD)
statistics for goods and services exports
In 2023, the UK’s exports of goods and services totalled £865 billion and imports totalled £898 billion. The EU accounted for 41% of UK exports of goods and services and 52% of imports in 2023.
The UK generally imports more than it exports meaning that it runs a trade deficit. A deficit of £187 billion on trade in goods was offset by a surplus of £153 billion on trade in services in 2023. The overall trade deficit was £33 billion in 2023.
The UK had a trade deficit with the EU of £109 billion in 2023 and a trade surplus of £75 billion with non-EU countries.
The trade deficit with all countries decreased to £5.1 billion in the three months to February 2024 compared with the previous three months. Exports increased by 0.1% and imports decreased by 1.3% in cash terms over this period.
The current account, which includes investment income and transfers as well as trade, saw a deficit of £89 billion in 2023, compared with £77 billion in 2022. The current account deficit was 3.3% of GDP in 2023 compared with 3.1% in 2022.
The current account deficit increased to £21.2 billion in Q4 2023 (3.1% of GDP), compared with a deficit of £18.5 billion (2.7% of GDP) in Q3 2023.
https://www.ons.gov.uk/economy/national ... bruary2024
https://oec.world/en/profile/country/gbr
