UK trade - December 2024

13th February 2025

The value of goods imports decreased by £1.2 billion (2.6%) in December 2024, because of a fall in both EU and non-EU imports.

The value of goods exports remained stable in December 2024, with a rise in exports to non-EU countries offset by a fall in exports to the EU.

The total goods and services trade deficit widened by £4.2 billion to £10.0 billion in Quarter 4 (Oct to Dec) 2024, because imports increased while exports decreased.

The trade in goods deficit widened by £3.7 billion to £53.8 billion in Quarter 4 (Oct to Dec) 2024, while the trade in services surplus is estimated to have narrowed by around £0.5 billion to £43.8 billion.

Total imports of goods and services fell by £7.9 billion (0.9%) in 2024, while annual total exports rose by £6.1 billion (0.7%), which saw the total annual trade balance narrow by £14.0 billion to a deficit of £25.1 billion.

Read the full ONS report HERE