The share of UK exports going to the EU has declined gradually in recent years:
• In 2006, the EU accounted for 55% of all UK exports. By 2016, this had fallen to 43%, before increasing slightly to 44% in 2017.
• The picture on imports is slightly less clear. In 2002, 58% of UK imports were from the EU. By 2010, this had fallen to 51% but has increased slightly more recently, reaching 54% in 2016.
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.
Copyright: Open Government Licence v3.0
Read Full News Story » UK Trade with the EU: Facts and Stats