UK overseas trade in goods statistics September 2023: commentary
Published 10 November 2023
漏 Crown copyright 2023
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Trade in Goods Summary
From 31 December 2020, the free movement of people and goods and services between the UK and the European Union (EU) ended. This meant HMRC has changed sources and methodologies of the trade in goods statistics. Users must refer to the accompanying methodology notes, which details these changes and the impact on the statistics.
Total exports of goods for September 2023
拢35.2 billion up 拢1.4 billion (4%) on August 2023, and down 拢7.1 billion (17%) on September 2022
Total imports of goods for September 2023
拢48.6 billion up 拢0.1 billion (less than 1%) on August 2023, and down 拢7.3 billion (13%) on September 2022
Source: HM Revenue & Customs Overseas Trade in Goods Statistics
Note: 2023 data is provisional
The UK was a net importer this month, with imports exceeding exports by 拢13.4 billion, narrowing the trade gap by 拢1.3 billion on August 2023.
Figure 1: Total UK monthly Trade in Goods, April 2022 to September 2023
Source: HM Revenue & Customs Overseas Trade in Goods Statistics
Note: 2023 data is provisional
Figure 1 shows that exports have remained fairly steady since June 2023. In September 2023, imports remain below April 2023 levels. The trade gap has narrowed in September 2023, following a relatively steady period.
EU and Non-EU Trade in Goods
- Exports to the EU accounted for 43% of the total value of exports.
- Imports from the EU accounted for 52% of the total value of imports.
Table 1: Total UK Trade in Goods with EU and Non-EU, September 2023 (拢 billion)
| Flow | EU | Non-EU | 罢辞迟补濒听 |
|---|---|---|---|
| Exports | 15.3 | 19.9 | 35.2 |
| Imports | 25.5 | 23.2 | 48.6 |
Source: HM Revenue & Customs Overseas Trade in Goods Statistics
Note: 2023 data is provisional
Table 1 shows the share of EU and non-EU exports and imports.
- EU exports for September 2023 were 拢15.3 billion. This was an increase of 拢1.0 billion (7%) on August 2023, but a decrease of 拢2.4 billion (14%) compared with September 2022.
- Non-EU exports for September 2023 were 拢19.9 billion. This was an increase of 拢0.4 billion (2%) on August 2023, but a decrease of 拢4.7 billion (19%) compared with September 2022.
- EU imports for September 2023 were 拢25.5 billion. This was an increase of 拢0.7 billion (3%) on August 2023, and an increase of 拢0.9 billion (4%) compared with September 2022.
- Non-EU imports for September 2023 were 拢23.2 billion. This was a decrease of 拢0.6 billion (2%) on August 2023, and a decrease of 拢8.2 billion (26%) compared with September 2022.
Exports: Country Analysis
- Exports to Hong Kong up to more than 3 times the value on August 2023.
- Exports to Switzerland down 69% in value on September 2022.
Table 2: UK exports of goods to the top 5 countries, main commodity and total value, September 2023
| Main partner country | Total country value (拢 million) | Main commodity聽 | Partner commodity value (拢 million)聽 |
|---|---|---|---|
| 鲍厂础听听听听听听听听 | 4,611 | Mechanical appliances | 1,077听 |
| 骋别谤尘补苍测听听听听 | 2,646 | Mechanical appliances | 586听听听 |
| 颁丑颈苍补听听听听听听 | 2,423 | Precious metals聽聽聽聽聽聽 | 1,505听 |
| Netherlands | 2,380 | Mineral fuels聽聽聽聽聽聽聽聽 | 850听听听 |
| Hong Kong聽聽 | 2,316 | Precious metals聽聽聽聽聽聽 | 1,798听 |
Source: HM Revenue & Customs Overseas Trade in Goods Statistics
Note: 2023 data is provisional
Table 2 shows the top 5 export partner countries by value:
- USA
- Germany
- China
- Netherlands
- Hong Kong
Exports of Mechanical appliances accounted for 23% of UK exports to the USA and 22% of UK exports to Germany. Exports of Precious metals accounted for 62% of UK exports to China and 78% of UK exports to Hong Kong. Exports of Mineral fuels accounted for 36% of UK exports to the Netherlands.
Exports: Commodity Analysis
- Motor vehicles up 33% in value on August 2023.
- Precious metals down by 40% in value on September 2022.
Table 3: UK exports of goods of the top 5 commodities, main partner country and total value, September 2023
| 颁辞尘尘辞诲颈迟测听听听听听听听 | Total commodity value (拢 million)聽 | Main partner country | Partner country value (拢 million)聽 |
|---|---|---|---|
| Precious metals聽聽聽聽聽聽 | 6,759 | Hong Kong聽聽 | 1,798听 |
| Mechanical appliances | 5,613 | USA 聽聽聽聽聽聽聽聽 | 1,077听 |
| Motor vehicles聽聽聽聽聽聽聽 | 3,375 | 鲍厂础听听听听听听听听 | 600听听听 |
| Mineral fuels聽聽聽聽聽聽聽聽 | 2,501 | Netherlands | 850听听听 |
| Electronic equipment聽 | 1,970 | 鲍厂础听听听听听听听听 | 326听听听 |
Source: HM Revenue & Customs Overseas Trade in Goods Statistics
Note: 2023 data is provisional
Table 3 shows the top 5 export commodities by value:
- Precious metals
- Mechanical appliances
- Motor vehicles
- Mineral fuels
- Electronic equipment
Exports to Hong Kong accounted for 27% of UK exports of Precious metals. Exports to the USA accounted for 19% of UK exports of Mechanical appliances, 18% of UK exports of Motor vehicles, and 17% of UK exports of Electronic equipment. Exports to the Netherlands accounted for 34% of UK exports of Mineral fuels.
Imports: Country Analysis
- Imports from China up 8% on August 2023
- Imports from the USA down 31% on September 2022
Table 4: UK imports of goods from the top 5 countries, main commodity and total value, September 2023
| Main partner country | Total country value (拢 million) | Main commodity聽聽聽 | Partner commodity value (拢 million)聽 |
|---|---|---|---|
| 颁丑颈苍补听听听听听听 | 5,565 | Electronic equipment聽 | 1,492听 |
| 骋别谤尘补苍测听听听听 | 5,493 | Motor vehicles聽聽聽聽聽聽聽 | 1,767听 |
| Netherlands | 4,230 | Mechanical appliances | 626听听听 |
| 鲍厂础听听听听听听听听 | 4,136 | Mechanical appliances | 730听听听 |
| 贵谤补苍肠别听听听听听 | 3,114 | Motor vehicles聽聽聽聽聽聽聽 | 568听听听 |
Source: HM Revenue & Customs Overseas Trade in Goods Statistics
Note: 2023 data is provisional
Table 4 shows the top 5 import partner countries by value:
- China
- Germany
- Netherlands
- USA
- France
Electronic equipment accounted for 27% of UK imports from China. Motor vehicles accounted for 32% of UK imports from Germany and 18% of UK imports from France. Mechanical appliances accounted for 15% of UK imports from the Netherlands and 18% of UK imports from the USA.
Imports: Commodity Analysis
- Imports of Electronic equipment up 15% on August 2023
- Imports of Mineral fuels down 51% on September 2022
Table 5: UK imports of goods of the top 5 commodities, main partner country and total value, September 2023
| Commodity | Total commodity value (拢 million) | Main partner country聽聽聽 | Partner country value (拢 million)聽 |
|---|---|---|---|
| Mechanical appliances | 6,136 | 颁丑颈苍补听听 | 849听听听 |
| Motor vehicles聽聽聽聽聽聽聽 | 5,645 | Germany | 1,767听 |
| Electronic equipment聽 | 5,084 | 颁丑颈苍补听听 | 1,492听 |
| Mineral fuels聽聽聽聽聽聽聽聽 | 4,780 | 狈辞谤飞补测听 | 1,273听 |
| Precious metals聽聽聽聽聽聽 | 3,025 | 鲍厂础听听听听 | 697听听听 |
Source: HM Revenue & Customs Overseas Trade in Goods Statistics
Note: 2023 data is provisional
Table 5 shows the top 5 import commodities by value:
- Mechanical appliances
- Motor vehicles
- Electronic equipment
- Mineral fuels
- Precious metals
Imports from China accounted for 14% of聽UK聽imports of Mechanical appliances and 29% of聽UK聽imports of Electronic equipment. Imports from Germany聽accounted for 31% of聽UK聽imports of Motor vehicles. Imports from Norway accounted for 27% of聽UK聽imports of Mineral fuels. Imports from the USA accounted for 23% of聽UK聽imports of Precious metals.
Focus
China
Exports
Exports to China decreased by 拢309 million (11%) on August 2023, led by:
- 拢223 million (13%) decrease in exports of Precious metals
- 拢47 million (23%) decrease in exports of Mechanical appliances
Similarly, exports to China decreased by 拢1,150 million (32%) on September 2022, led by:
- 拢912 million (38%) decrease in exports of Precious metals
- 拢190 million (99%) decrease in exports of Mineral fuels
Imports
Imports from China increased by 拢398 million (7.7%) on August 2023, led by:聽
- 拢430 million (41%) increase in imports of Electronic equipment
- 拢135 million increase in imports of Aircraft聽(from 拢7 million)
This was offset by a 拢114 million (25%) decrease in imports of Motor vehicles.
In contrast, imports from China decreased by 拢1,167 million (17%) on September 2022, led by:聽
- 拢295 million (16%) decrease in imports of Electronic equipment
- 拢153 million (15%) decrease in imports聽 of Mechanical appliances
- 拢125 million (27%) decrease in imports of Motor vehicles