UK total trade balance
UK total trade balance stood at -£12,774m in Q2 2026, according to Office for National Statistics (ONS). It is one of the indicators in the Balance of payments table (Value · Quarterly), with a complete series running from Q1 1955 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Balance of payments table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total trade balance | -12,774 | -16,154 | -12,321 | -8,566 | -10,914 | -7,646 | -10,007 | 300 | -11,286 | -4,521 | |
| Trade in goods balance | -64,044 | -64,963 | -62,796 | -58,520 | -60,557 | -52,393 | -55,208 | -44,841 | -58,115 | -43,884 | |
| Current account balance | -19,932 | -21,120 | -27,068 | -18,784 | -25,509 | -20,269 | -29,972 | -14,545 | -23,413 | -20,960 |
Understanding UK total trade balance
Combined net receipts from the international exchange of physical merchandise and intangible services establish this headline trade measure for the United Kingdom. Calculated as aggregate exports minus aggregate imports, the figure unifies the distinct customs records of physical goods with cross-border service transactions such as banking, consultancy, transport, and travel. It isolates commercial trade performance from cross-border investment income and government transfers, both of which are excluded here and captured only within the wider current account balance.
Figures appear on a seasonally adjusted basis in millions of pounds (£m), removing predictable intra-year fluctuations such as seasonal holiday transport and freight spikes. Because initial service receipts are modelled using monthly sample surveys whereas goods traffic relies on administrative customs filings, early releases undergo regular statistical revision. Analysts evaluating the headline position should distinguish between movements in physical goods flows, which often carry larger structural deficits, and services trade, which typically generates offsetting surpluses.
Frequently asked questions
- Does this series include investment earnings from foreign subsidiaries?
- No, it excludes all cross-border investment income, dividend flows, and migrant remittances, recording exclusively the exchange of goods and commercial services.
- How does the valuation basis here differ from standard customs declarations?
- Values are adjusted onto a balance-of-payments basis, ensuring both exports and imports are recorded free on board to exclude cross-border freight and insurance margins from goods values.
- Why is the total trade balance less volatile from month to month than the goods balance alone?
- Service flows follow smoother contracting and billing schedules, which partially dampens the sharper monthly swings common to physical merchandise deliveries.