UK runs foreign trade deficit of $3.4B in January

By Mucahithan Avcioglu

ISTANBUL (AA) - The UK's trade balance posted a deficit of £2.64 billion (some $3.4 billion) in January, the Office for National Statistics announced on Friday.

The country's total exports totaled £71.5 billion, down 0.6% year-on-year, while total imports reached £74.2 billion, up 0.9% in January, the office said.

Foreign trade in goods posted a deficit of £17.85 billion in January due to a 7.8% yearly decrease in goods exports.

"The goods imports stable in January 2025, because a fall in imports from the EU was offset by a rise in imports from non-EU countries," it said.

"Exports of goods to the United States increased by £0.1 billion, the second consecutive monthly rise, while imports of goods from the United States fell by £0.1 billion," it added.

Total trade to the EU countries posted a deficit of £10.77 billion in January, while trade to non-EU countries saw a deficit of £7 billion.

In the 3 months ended in January, total exports dropped by 0.2% to £209.2 billion, while total imports rose by 2.3% to £219 billion, versus the previous 3-month period.

"The total goods and services trade deficit widened by £0.5 billion to £5.7 billion in the three months to January 2025, because imports rose more than exports," it noted.