Balance of Trade with EU and Non-EU Countries, 1999-2017
The fall in UK exports to the EU is more pronounced in goods than in services:
• In 1999, 61% of all UK goods exports were to the EU; by 2017 this had fallen to 48%.
• The EU has accounted for a consistent share of UK service exports– this has remained at around 40% since 1999. Trends in trade in imports have been mixed:
• The proportion of UK goods imports being sourced from the EU has remained fairly consistent since 1999.
• In general, the proportion of service imports being sourced from the EU has fallen since 1999, from a high of 57% in 2003 to 49% in 2017.
Overall, the UK has had a trade deficit with the EU in every year since 1999. By contrast, the UK has had a surplus with non-EU countries since 2012.
The Appendix at the end of this note shows a time series of data on UK trade with the EU.
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