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November 15, 2024UK TRADE BALANCE SEPTEMBER 2024 
Month-over-month (September 2024 vs August 2024, seasonally adjusted)
The United Kingdom (UK) goods and services trade deficit widened by £1.4 billion to £3.5 billion. Exports of goods and services decreased 5.8% (-£4.2 billion) to £68.2 billion while imports of goods and services were down 3,7% (£2.8 billion) to £71.67 billion.
The UK goods trade deficit widened by £1.1 billion to £16.3 billion. Exports of goods from the UK decreased 12.6% (£4.1 billion) to £28.5 billion. Imports of goods to the UK decreased 6.3% (-£3.0 billion) to £44.8 billion. The UK services trade surplus declined by £0.3 billion to £12.9 billion. Exports of services from the UK decreased 0.3% (+£0.13 billion) to £39.7 billion while imports of services to the UK increased 0.8% (+£0.2 billion) to £26.9 billion.
The UK goods trade deficit with the European Union (EU) widened by £0.6 billion to £11.0 billion. Exports of goods from the UK to the EU decreased by 10.4% (£1.6 billion) to £13.7 billion while imports of goods from the EU to the UK decreased by 3.7% (-£0.9 billion) to £24.7 billion. The UK trade deficit with countries outside the EU widened by £0.5 billion to £5.3 billion. Exports from the UK to countries outside the EU decreased 14.6% (£2.5 billion) to £14.8 billion while imports to the UK from non-EU countries decreased 9.3% (£2.1 billion) to £20.1 billion.
Year-over-year (September 2024 vs September 2023)
The UK goods and services trade deficit widened by £3.4 billion. The goods deficit widened by £2.5 billion while the services surplus narrowed by £0.9 billion.
Goods exports were down 7.1% year-over-year (£2.2 billion) while goods imports were up 0.7% (£0.3 billion). Services exports were up 3.2% (£1.2 billion) while services imports were up 8.7% (£2.1 billion).
Compared with September 2023, the UK goods trade deficit with the EU grew by £1.0 billion (exports -8.5% or -£1.3 billion, imports -1.0% or -£0.2 billion).
The UK goods trade deficit with non EU countries widened by £1.5 billion (exports -5.7% or £0.9 billion, imports 2.8% or +£0.6 billion).
Source: UK Office for National Statistics: Press release | UK trade time series
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