UK overseas trade in goods statistics November 2023: commentary
Published 12 January 2024
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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 document, which details these changes and the impact on the statistics.
Total exports of goods for November 2023
£37.1 billion down £4.2 billion (10%) on October 2023, and down £5.1 billion (12%) on November 2022
Total imports of goods for November 2023
£56.2 billion down £0.1 billion (less than 1%) on October 2023, and down £2.7 billion (5%) on November 2022
Source: HM Revenue & Customs UK overseas trade in goods statistics
Note: 2023 data is provisional
The UK was a net importer this month, with imports exceeding exports by £19.1 billion, widening the trade gap by £4.1 billion on October 2023.
Figure 1: Total UK monthly Trade in Goods, June 2022 to November 2023
Download detailed November 2023 trade gap data (ODS 12KB)
Source: HM Revenue & Customs UK overseas trade in goods statistics
Note: 2023 data is provisional
Figure 1 shows that exports remained fairly steady since June 2023, rising in October 2023 and falling slightly in November 2023. After falling gradually since May 2023, imports rose in October 2023 and remained unchanged in November 2023. The trade gap widened considerably in November 2023 and returned to levels seen between April 2023 and July 2023.
EU and non-EU trade in goods
- Exports to the EU accounted for 44% 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, November 2023 (£ billion)
| Flow | EU | Non-EU | Total |
|---|---|---|---|
| Exports | 16.5 | 20.6 | 37.1 |
| Imports | 29.2 | 27.0 | 56.2 |
Download total UK trade in goods with EU and non-EU, November 2023 data (ODS 9 KB)
Source: HM Revenue & Customs UK 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 November 2023 were £16.5 billion. This was an increase of £0.6 billion (4%) on October 2023, but a decrease of £1.1 billion (6%) compared with November 2022.
Non-EU exports for November 2023 were £20.6 billion. This was a decrease of £4.8 billion (19%) on October 2023, and a decrease of £4.0 billion (16%) compared with November 2022.
EU imports for November 2023 were £29.2 billion. This was an increase of less than £0.1 billion (less than 1%) on October 2023, and an increase of £0.8 billion (3%) compared with November 2022.
Non-EU imports for November 2023 were £27.0 billion. This was a decrease of £0.1 billion (less than 1%) on October 2023, and a decrease of £3.5 billion (11%) compared with November 2022.
Exports: Country Analysis
- Exports to Switzerland down £2,446 million (71%) on October 2023
- Exports to the Netherlands down 35% in value on November 2022
Table 2: UK exports of goods to the top 5 countries, main commodity and total value, November 2023
| Main partner country | Total country value (£ million) | Main commodity | Partner commodity value (£ million) |
|---|---|---|---|
| USA | 5,065 | Mechanical appliances | 1,084 |
| China | 3,958 | Precious metals | 2,619 |
| Germany | 2,789 | Mechanical appliances | 700 |
| Ireland | 2,445 | Mineral fuels | 364 |
| Netherlands | 2,242 | Mineral fuels | 584 |
Source: HM Revenue & Customs UK overseas trade in goods statistics
Note: 2023 data is provisional
Table 2 shows the top 5 export partner countries by value:
- USA
- China
- Germany
- Ireland
- Netherlands
Exports of Mechanical appliances accounted for 21% of UK exports to the USA and 25% of UK exports to Germany. Exports of Precious metals accounted for 66% of UK exports to China. Exports of Mineral fuels accounted for 15% of UK exports to Ireland and 26% of UK exports to the Netherlands.
Exports: Commodity Analysis
- Precious metals down 43% in value on October 2023
- Mineral fuels down 38% in value on November 2022
Table 3: UK exports of goods of the top 5 commodities, main partner country and total value, November 2023
| Commodity | Total commodity value (£ million) | Main partner country | Partner country value (£ million) |
|---|---|---|---|
| Mechanical appliances | 6,436 | USA | 1,084 |
| Precious metals | 5,985 | China | 2,619 |
| Motor vehicles | 3,866 | USA | 739 |
| Mineral fuels | 2,502 | Netherlands | 584 |
| Pharmaceutical products | 2,353 | USA | 787 |
Source: HM Revenue & Customs UK overseas trade in goods statistics
Note: 2023 data is provisional
Table 3 shows the top 5 export commodities by value:
- Mechanical appliances
- Precious metals
- Motor vehicles
- Mineral fuels
- Pharmaceutical products
Exports to the USA accounted for 17% of UK exports of Mechanical appliances, 19% of UK exports of Motor vehicles, and 33% of UK exports of Pharmaceutical products. Exports to China accounted for 44% of UK exports of Precious metals. Exports to the Netherlands accounted for 23% of UK exports of Mineral fuels.
Imports: Country Analysis
- Imports from China down 7.6% in value on October 2023
- Imports from the USA down 31% in value on November 2022
Table 4: UK imports of goods from the top 5 countries, main commodity and total value, November 2023
| Main partner country | Total country value (£ million) | Main commodity | Partner commodity value (£ million) |
|---|---|---|---|
| Germany | 7,347 | Motor vehicles | 2,714 |
| China | 5,742 | Electronic equipment | 1,845 |
| USA | 4,717 | Mineral fuels | 1,092 |
| Netherlands | 4,681 | Mineral fuels | 738 |
| France | 3,363 | Motor vehicles | 544 |
Source: HM Revenue & Customs UK overseas trade in goods statistics
Note: 2023 data is provisional
Table 4 shows the top 5 import partner countries by value:
- Germany
- China
- USA
- Netherlands
- France
Motor vehicles accounted for 37% of UK imports from Germany and 16% of UK imports from France. Electronic equipment accounted for 47% of UK imports from China. Mineral fuels accounted for 30% of UK imports from the USA and 16% of UK imports from the Netherlands.
Imports: Commodity Analysis
- Imports of Motor vehicles down 6.1% in value on October 2023
- Imports of Mineral fuels down 18% in value on November 2022
Table 5: UK imports of goods of the top 5 commodities, main partner country and total value, November 2023
| Commodity | Total commodity value (£ million) | Main partner country | Partner country value (£ million) |
|---|---|---|---|
| Mechanical appliances | 6,895 | China | 986 |
| Motor vehicles | 6,663 | Germany | 2,714 |
| Mineral fuels | 6,468 | Norway | 2,410 |
| Electronic equipment | 5,751 | China | 1,845 |
| Precious metals | 4,712 | Uzbekistan | 1,032 |
Source: HM Revenue & Customs UK overseas trade in goods statistics
Note: 2023 data is provisional
Table 5 shows the top 5 import commodities by value:
- Mechanical appliances
- Motor vehicles
- Mineral fuels
- Electronic equipment
- Precious metals
Imports from China accounted for 14% of UK imports of Mechanical appliances and 32% of UK imports of Electronic equipment. Imports from Germany accounted for 41% of UK imports of Motor vehicles. Imports from Norway accounted for 37% of UK imports of Mineral fuels. Imports from Uzbekistan accounted for 22% of UK imports of Precious metals.
Focus
Organic Chemicals
Exports
Exports of Organic chemicals decreased by £420 million (53%) on October 2023, led by:
- £252 million (96%) decrease in exports to Ireland
- £188 million (81%) decrease in exports to the USA
Similarly, exports of Organic chemicals decreased by £598 million (62%) on November 2022, led by:
- £400 million (90%) decrease in exports to the USA
- £116 million (91%) decrease in exports to Ireland
Imports
Imports of Organic chemicals increased by £267 million (53%) on October 2023, led by a £296 million increase in imports from Ireland (from £4.2 million).
In contrast, imports of Organic chemicals decreased by £382 million (33%) on November 2022, led by a £241 million (45%) decrease in imports from Ireland.
France
Exports
Exports to France decreased by £294 million (13%) on October 2023, led by:
- £189 million (87%) decrease in exports of Mineral fuels
- £56 million (33%) decrease in exports of Pharmaceutical products
Similarly, exports to France decreased by £441 million (18%) on November 2022, led by:
- £383 million (93%) decrease in exports of Mineral fuels
- £192 million (55%) decrease in exports of Aircraft
Imports
Imports from France decreased by £177 million (5%) on October 2023, led by:
- £97 million (54%) decrease in imports of Aircraft
- £55 million (36%) decrease in imports of Measuring devices and gauges
In contrast, imports from France increased by £286 million (9%) on November 2022, led by:
- £191 million (54%) increase in imports of Motor vehicles
- £113 million increase in imports of Mineral fuels (to over 3 times the value)
- £79 million (35%) increase in imports of Electronic equipment
This was offset by £140 million (63%) decrease in imports of Aircraft.