12th February 2026
Exports of goods to the United States, including precious metals, rose by £0.1 billion (2.5%) in December 2025 (Figure 3). The rise in exports was because of a £0.2 billion increase in exports of chemicals which was partially offset by small falls in exports of most other commodities.
The rise in chemical exports was because of higher exports of inorganic chemicals. The value of goods exports to the United States have remained relatively low since the introduction of tariffs in April.
Imports of goods from the United States, including precious metals, decreased by £0.5 billion (9.7%) in December 2025. The decrease was because of a £0.5 billion fall in imports of material manufactures linked to lower imports of non-ferrous metals, and smaller falls across some other commodities. These falls were partially offset by a £0.4 billion rise in imports of fuels from higher imports of refined oil.
Non-ferrous metals include silver, platinum, and palladium bullion bars, which are components of precious metals. Trade in precious metals can be large and highly volatile, distorting underlying trends in trade in goods. Silver, platinum, palladium, and other metals also have uses in industry, so not all of these metals are classified as precious metals.
Read the full ONS report HERE