UK Trade - September 2023

10th November 2023

The value of goods imports decreased by £2.9 billion (6.2%) in September 2023, with falls in imports from both EU and non-EU countries.

The fall in imports was mainly the result of lower imports of machinery and transport equipment from the EU and reduced fuel imports from non-EU countries.

The value of goods exports decreased by £0.9 billion (2.9%) because of falls in exports to both EU and non-EU countries.

The total trade in goods and services deficit narrowed by £7.1 billion to £6.0 billion in Quarter 3 (July to Sept) 2023, the result of a substantial fall in imports; the total trade deficit has declined steadily since Quarter 2 (Apr to June) 2022 when it stood at £26.9 billion.

The trade in goods deficit narrowed by £7.0 billion to £44.2 billion in Quarter 3 2023, while the trade in services surplus widened by £0.1 billion to £38.3 billion.

Read the full report HERE