UK sees foreign trade deficit of $31B in 2024

By Mucahithan Avcioglu

ISTANBUL (AA) - The UK's trade balance posted a deficit of £25.1 billion (some $31.3 billion) in 2024, the Office for National Statistics announced on Thursday.

The country's total exports totaled £832.6 billion, up 0.7% year-on-year, while total imports reached £857.6 billion, down 0.9% in 2024, the office said.

In the last quarter, total exports dropped by 0.6% to £206.3 billion, while total imports rose by 1.3% to £216.2 billion, versus the third quarter.

For goods exports, the US was the main destination with £58.7 billion, while Germany was the main import source with £71.1 billion in 2024.

Cars became the main item both in both the exports and imports of the country last year.