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February 15, 2024UK TRADE BALANCE, DECEMBER AND ANNUAL 2023 
Month-over-month (December 2023 vs November 2023, seasonally adjusted )
The United Kingdom goods and services trade deficit narrowed by £1.1 billion to £2.6 billion. Exports of goods and services decreased 2.0% (£1.4 billion) to £68.8 billion and imports of goods and services decreased 3.4% (£2.5 billion) to £71.4 billion.
The United Kingdom goods trade deficit narrowed by £1.1 billion to £14.0 billion. Exports of goods decreased 4.5% (£1.5 billion) to £31.0 billion and imports of goods decreased 5.5% (£2.6 billion) to £45.0 billion.
The United Kingdom services trade surplus narrowed by £0.02 billion to £11.4 billion. Exports of services increased 0.2% (£0.1 billion) to £37.8 billion and imports of services increased 0.3% (£0.1 billion) to £26.4 billion.
Year-over-year (December 2023 vs December 2022, seasonally adjusted)
The United Kingdom goods and services deficit widened by £1.0 billion. The goods trade deficit narrowed by £1.1 billion and the services trade surplus narrowed by £2.2 billion.
UNITED KINGDOM TRADING PARTNERS
Month-over-month (December 2023 vs November 2023, seasonally adjusted)
The United Kingdom EU goods trade deficit declined by £0.7 billion to £10.7 billion. Exports of goods decreased by 2.2% to £15.0 billion and imports of goods decreased by 3.9% to £25.7 billion.
The United Kingdom non-EU goods trade deficit declined by £0.4 billion to £3.3 billion. Exports of goods decreased 6.5% (£1.1 billion) to £16.0 billion and imports of goods decreased by 7.4% (£1.5 billion) to £19.3 billion.
Year-over-year (December 2023 vs December 2022, seasonally adjusted)
The United Kingdom-EU goods trade deficit narrowed by £0.6 billion and the non-EU goods trade deficit narrowed by £2.6 billion.
ANNUAL (2023 vs 2022)
The United Kingdom goods and services trade deficit narrowed by £30.3 billion to £36.6 billion in 2023. Exports of goods and services increased 2.6% (£21.5 billion) to £859.2 billion and imports of goods and services decreased 1.0% (£8.8 billion) to £895.8 billion.
The United Kingdom goods trade deficit narrowed by £28.3 billion to £188.8 billion. Exports of goods decreased 7.7% (£32.8 billion) to £392.7 billion and imports of goods decreased 9.5% (£61.0 billion) to £581.5 billion.
The United Kingdom services trade surplus widened by £2.0 billion to £152.3 billion. Exports of services increased 13.2% (£54.2 billion) to £466.6 billion and imports of services increased 19.9% (£52.2 billion) to £314.3 billion.
The United Kingdom EU goods trade deficit widened by £22.7 billion to £133.6 billion. Exports of goods decreased by 5.8% to £185.3 billion and imports of goods increased by 3.7% to £319.0 billion.
The United Kingdom non-EU goods trade deficit declined by £50.9 billion to £55.2 billion. Exports of goods decreased 9.3% (£21.3 billion) to £207.3 billion and imports of goods decreased by 21.6% (£72.3 billion) to £262.5 billion.
REFERENCE
Office for National Statistics, Press release | UK trade time series
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