UK trade deficit in Q3 narrowed by £7.1B to £6.0B; value of goods exports decreased 2.9% due to a decline in exports to both EU and non-EU countries, value of goods imports decreased 6.2% due to lower imports from EU and non-EU countries: ONS

Sample article from our Housing & Economy

LONDON , November 10, 2023 (press release) –

Total value of UK exports and imports of goods and services in current prices, chained volume measures and implied deflators.

Main points

  • The value of goods imports decreased by £2.9 billion (6.2%) in September 2023, with falls in imports from both EU and non-EU countries.
  • The fall in imports was mainly the result of lower imports of machinery and transport equipment from the EU and reduced fuel imports from non-EU countries.
  • The value of goods exports decreased by £0.9 billion (2.9%) because of falls in exports to both EU and non-EU countries.
  • The total trade in goods and services deficit narrowed by £7.1 billion to £6.0 billion in Quarter 3 (July to Sept) 2023, the result of a substantial fall in imports; the total trade deficit has declined steadily since Quarter 2 (Apr to June) 2022 when it stood at £26.9 billion.
  • The trade in goods deficit narrowed by £7.0 billion to £44.2 billion in Quarter 3 2023, while the trade in services surplus widened by £0.1 billion to £38.3 billion.

Industry Intelligence Editor's Note: This press release omits select charts and/or marketing language for editorial clarity. Click here to view the full report.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

See our dashboard in action - schedule an demo
Dan Rivard
Dan Rivard
- VP Market Development -

We offer built-to-order housing & economy coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.