UK export performance

Summary

In 2022, the UK exported £815 billion of goods and services, up from £654 billion in 2021.

UK goods exports were worth £414 billion in 2022, 51% of all UK exports.

UK services exports were worth £401 billion in 2022, 49% of all UK exports.

The UK recorded an overall trade deficit in 2022 (meaning the value of imports exceeded the value of exports) of £87 billion – a trade surplus in services of £144 billion was more than outweighed by a trade deficit in goods of £231 billion.

UK export performance in recent years has been affected by a number of factors, including the UK leaving the EU and the Coronavirus pandemic.

The Government has outlined its approach to growing exports in a “refreshed” export strategy, Made in the UK, Sold to the World, launched in November 2021. The Government’s ambition is to help business exports grow to £1 trillion annually by 2030.

UK export strategy is supported by the Government’s free trade agreement negotiations programme, which aims at “making it easier for UK businesses to trade and securing access for UK exporters into overseas markets.”