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UK Trade Figures, 6-month summary: Sep 18 – Feb 19

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Accumulated figures for the UK’s Trade in Goods covering the 6 month period from September 2018 through February 2019, obtained from HM Revenue & Customs Overseas Trade in Goods Statistics.

Data shows that the strongest trading partners are Germany, China, USA, Netherlands and France (in that order) and this has remained consistent over the 6 month period.

The largest trade deficit is with Germany. The UK has imported goods from Germany worth a total of £34bn and exported goods (to Germany) worth £18.4bn. If there were trade tariffs of say an average of 10% applied to trade in goods on both exports and imports, this could cost German companies an extra £3.4bn and UK companies an extra £1.84bn in a 6 month period.

References:

UK overseas trade in goods February 2019

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HM Revenue & Customs (HMRC) collects the UK’s international trade in goods data for Non-EU and EU trade with the UK. These are published on a monthly basis and figures for February 2019 have recently been released. (10 April 2019)

UK overseas trade in goods statistics: February 2019

A summary is provided in a document available at

UK overseas trade in goods statistics February 2019: commentary (odt)

Note: This document is in an OpenDocument format if you have difficulty in reading this format I have included a copy in pdf here

UK overseas trade in goods statistics February 2019: commentary (pdf)

Summary

Total exports of goods for February 2019 were £29.1 billion.

Total imports of goods for February 2019 were £43.5 billion.

The UK was a net importer this month, with imports exceeding exports by £14.4 billion.

For EU trade the UK was a net importer this month, with imports exceeding exports by £8.6 billion.

For Non-EU trade the UK was a net importer this month, with imports exceeding exports by £5.8 billion.

Imports to the UK

EU Imports for February 2019 were £23.4 billion.

Non-EU Imports for February 2019 were £20.1 billion.

Germany accounted for 14% (£5.9bn) of the total value of imports to the UK. USA had the second largest proportion of the total value of trade, accounting for 9% (£4.1bn) followed by the Netherlands 9% (£3.7bn), China 8% (£3.4bn), and France 6% (£2.6bn). The top five partner countries accounted for 44% of total UK import value this month.

Exports from the UK

EU Exports for February 2019 were £14.8 billion

Non-EU Exports for February 2019 were £14.3 billion.

The USA accounted for 15% (£4.2bn) per cent of the total value of goods exports from the UK. Germany had the second largest proportion, accounting for 11% (£3.2bn), followed by France with 7% (£2.2bn), Netherlands with 7% (£2.0bn), and the Irish Republic at 6% (£1.7bn). The top five export partners accounted for 46% of total exports in goods this month.

Spreadsheets are available which show the figures in more detail.

The following tables contain EU and Non-EU import and export data for February 2019.

UK overseas trade in goods statistics February 2019: import and export data

UK overseas trade in goods statistics February 2019: imports (xls)

UK overseas trade in goods statistics February 2019: exports (xls)

Document Copies

Trade in Goods Feb 2019 (pdf)

OTS_IMP_1902 (xls)

OTS_EXP_1902 (xls)

Technical update to the Withdrawal Agreement 12 April 2019

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An exchange of letters between the EU Commission and the UK setting out and confirming technical updates to the Withdrawal Agreement reflecting the extension of Article 50.

(…and you thought that the EU was not going to change the Withdrawal Agreement !!)

https://www.gov.uk/government/publications/technical-update-to-the-withdrawal-agreement

Also included is an updated copy of the Withdrawal Agreement reflecting these updates.

Letter from the European Union to the UK concerning the Withdrawal Agreement

(Local copy pdf)

Letter from the UK to the European Union concerning the Withdrawal Agreement

(Local copy pdf)

Updated Withdrawal Agreement including Article 50 extension

(Local copy pdf)

UK Formal Letter accepting the Article 50 Extension (11 April 2019)

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The UK formally accepts the extension to the Article 50 period following the EU Council meeting held on April 10 2019 in a letter from the UK’s Permanent Representative to the EU to the President of the European Council concerning Article 50 extension.

https://www.gov.uk/government/news/confirmation-of-uk-government-agreement-to-extend-article-50

11 April 2019

His Excellency Donald Tusk
President of the European Council

I refer to the draft European Council Decision taken in agreement with the United Kingdom extending the period under Article 50(3) TEU, as attached to this letter. I am writing to confirm the agreement of the Government of the United Kingdom to the extension of the period under Article 50(3) and to this decision.

Tim Barrow

Confirmation Letter (copy)

Council Decision (copy)

PM statement to Parliament on EU Council: 11 April 2019

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Prime Minister Theresa May’s statement (11 April 2019) to the House of Commons on the European Council meeting in Brussels.

https://www.gov.uk/government/speeches/pm-statement-on-european-council-11-april-2019

With permission, Mr Speaker, I would like to make a Statement on yesterday’s European Council.

But before I do, I am sure that the whole House will welcome the news this morning that the Metropolitan Police have arrested Julian Assange for breach of bail, after nearly seven years in the Ecuadorian Embassy. He has also been arrested in relation to an extradition request from the United States authorities. This is now a legal matter before the courts. My Right Honourable Friend the Home Secretary will make a Statement on this later, but I would like to thank the Metropolitan Police for carrying out their duties with great professionalism and to welcome the co-operation of the Ecuadorian government in bringing this matter to a resolution. Mr Speaker, this goes to show that in the United Kingdom, no one is above the law.

Turning to the Council, my priority is to deliver Brexit – and to do so in an orderly way that does not disrupt people’s lives. So I continue to believe we need to leave the European Union with a deal as soon as possible. And of course, this House has voted repeatedly to avoid a No Deal. Yet despite the efforts of Members on all sides, we have not so far been able to vote for a deal.

So ahead of the Council, I wrote to President Tusk to seek a short extension to the Article 50 period to 30th June.

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