Economic indicators are quick-read summaries of the latest data focusing on different aspects of the UK economy. The full suite of indicators can be found on the main Economic Indicators page.
In 2024, the UK’s exports of goods and services totalled £873 billion and imports totalled £906 billion. The EU accounted for 41% of UK exports of goods and services and 50% of imports in 2024.
The UK generally imports more than it exports meaning that it runs a trade deficit. A deficit of £226 billion on trade in goods was partly offset by a surplus of £194 billion on trade in services in 2024. The overall trade deficit was £32 billion in 2024.
The UK had a trade deficit with the EU of £97 billion in 2024 and a trade surplus of £65 billion with non-EU countries.
The trade deficit with all countries decreased to £4.8 billion in the three months to February 2025 compared to £8.9 billion in the three months to November 2024. Exports increased by 4.6% and imports increased by 2.6% in cash terms over this period.
The current account, which includes investment income and transfers as well as trade, had a deficit of £76 billion in 2024, compared with £95 billion in 2023. The current account deficit was 2.7% of GDP in 2024 compared with 3.5% in 2023.
The current account deficit widened to £21 billion in Q4 2024 (2.9% of GDP), compared with £12.5 billion in Q3 2024 (1.7% of GDP).