14 May 2026, 11:56 United Kingdom: Trade Gap Widens to Largest Since 2022.
The United Kingdom trade deficit widened to GBP 9.66 billion in March 2026, up from an upwardly revised GBP 5.34 billion in the previous month, marking the largest trade gap since January 2022. Exports rose 0.2% month-on-month to GBP 79.13 billion, while imports grew at a faster pace of 5.3% to a three-month high of GBP 88.78 billion. Goods exports edged up 0.1% to GBP 32.35 billion, driven by higher shipments to the EU (3.9%), while those to non-EU countries remained relatively unchanged. Exports to the EU increased due to a GBP 0.6 billion rise in fuel exports and a GBP 0.2 billion increase in chemical exports. Services exports ticked up 0.2% to GBP 46.78 billion. On the import side, goods imports inched up 0.1% to GBP 59.57 billion, with imports from the EU rising 2.7%, mainly driven by a GBP 0.5 billion increase in fuel imports. Imports from non-EU countries rose 7.5%, supported by higher imports of machinery and transport equipment, along with fuel. Meanwhile, services imports were unchanged at GBP 29.21 billion.
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