
More concerning was the fact that the UK incurred a -$2.5 billion trade deficit from its product transactions with America during 2017 contrasted with the UK’s $8.3 billion trade surplus during 2013.
Year over year, Britain’s -$2.5 billion trade deficit with the US in 2017 also represents a reversal from the UK’s $4.5 billion in black ink at America’s expense US five years earlier.
UK Major Trade Balances with America
- Surpluses
- Deficits
- Exports
- Imports
Surpluses
The following 10 leading products generated a surplus subtotal of $21.1 billion for the UK in its international trade with the United States during 2017. Metrics listed below highlight the UK’s strongest competitive advantages over the US in goods exchanged between the two trade partners.
- Cars: US$8.6 billion (down -138.8% since 2013)
- Blood fractions (including antisera): $3.3 billion (down -109.6%)
- Medication mixes in dosage: $2.0 billion (down -15.9%)
- Alcohol (including spirits, liqueurs): $1576.8 million (up 12.5%)
- Hand-drawn paintings, drawings: $1191.5 million (down -18.9%)
- Processed petroleum oils: $1139.0 million (up 107.2%)
- Heterocyclics, nucleic acids: $970.7 million (down -22.4%)
- Miscellaneous heterocyclics: $520.3 million (up 5.1%)
- Seats (excluding barber/dentist chairs): $443.9 million (down -11.7%)
- Platinum (unwrought): $407.5 million (down -2.5%)
Top UK exports that produced the greatest surplus improvements were: processed petroleum oils (up 107.2%), alcohol including spirits and liqueurs (up 12.5%) and miscellaneous heterocyclics (up 5.1%).
Decliners were led by cars (down -138.8%), blood fractions including antisera (down -109.6%), heterocyclics and nucleic acids (down -22.4%) then hand-drawn paintings and drawings (down -18.9%).
Deficits
Exports
Imports
See also United Kingdom’s Top 10 Imports, United Kingdom’s Top 10 Exports, United Kingdom’s Top Trading Partners, United Kingdom’s Top 10 Major Export Companies and European Union’s Top 10 Exports
Research Sources:
Trade Map, International Trade Centre. Accessed on February 17, 2018
Investopedia, Net Exports Definition. Accessed on February 17, 2018
The World Factbook, Field Listing: World, Central Intelligence Agency. Accessed on February 17, 2018
Wikipedia, Economy of the United Kingdom. Accessed on February 17, 2018