Abstract
In 2014, the value of merchandise exports of the United Kingdom decreased moderately by 6.7 percent to reach 511.3 bln US$, while its merchandise imports increased slightly by 4.6 percent to reach 687.3 bln US$ (see graph 1, table 2 and table 3). After a reduction in the merchandise trade deficit in 2013, the deficit increased to 176.0 bln US$ in 2014, as a result of decreased exports and increased imports (see graph 1). The largest merchandise trade balance was with MDG Developed Europe at -128.3 bln US$ (see graph 4). Merchandise exports in the United Kingdom were diversified amongst partners; imports were also diversified. The top 21 partners accounted for 80 percent or more of exports and 20 partners accounted for 80 percent or more of imports (see graph 5). In 2013, the value of exports of services of the United Kingdom increased substantially by 13.8 percent, reaching 332.0 bln US$, while its imports of services increased substantially by 13.1 percent and reached 205.2 bln US$ (see graph 2). There was a moderate trade in services surplus of 126.8 bln US$.
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