UK Trade estimates for October – December 2023

The latest set of regional trade in goods statistics has been published for the final quarter of 2023. The way HMRC collects trade in goods statistics changed following the ending of the free movement of goods between the UK and EU from 1 January 2021. GB to EU export statistics are now compiled direct from customs export declarations and Northern Ireland’s (NI) imports from EU data collected via Intrastat declarations.

The 12 monthly figures, to 31 December 2023, saw decreases in both imports and exports compared with the previous year.

• The total value of UK exports for the 12 months ending 30 September 2023 was almost £366 billion. This represents a decrease of 2.3% over the previous year’s figures.
• The total value of UK imports for the 12 months ending 30 September 2023 was almost £598 billion. This represented a decrease of 5.4% over the previous year’s figures.

The next release of trade figures is expected in June 2024 and will include revised data for the final quarter of 2023 plus a set of new regional trade statistics figures for the first quarter of 2024.