The United Kingdom shipped US$519.4 billion worth of exported products around the world in 2023.
That dollar amount results from a 10.9% increase from $468.3 billion for 2019 but a -2.1% reduction compared to $530.5 billion one year earlier in 2022.
More data on UK exports by country, the EU and continent are described below.
United Kingdom’s Top Trading Partners
Below is a list showcasing 25 of United Kingdom’s top trading partners in terms of export sales. That is, these are countries that imported the most UK shipments by dollar value during 2023. Also shown is each import country’s percentage of total UK exports.
- United States: US$71.2 billion (13.7% of total UK exports)
- Germany: $39.9 billion (7.7%)
- Netherlands: $37.2 billion (7.2%)
- Switzerland: $35.4 billion (6.8%)
- Ireland: $34.12 billion (6.6%)
- China: $34.1 billion (6.6%)
- France: $29.3 billion (5.6%)
- Belgium: $21.3 billion (4.1%)
- Hong Kong: $16.1 billion (3.1%)
- India: $12.5 billion (2.4%)
- Italy: $12.1 billion (2.3%)
- Spain: $11.7 billion (2.3%)
- United Arab Emirates: $9.2 billion (1.8%)
- Poland: $8.2 billion (1.6%)
- Türkiye: $8 billion (1.5%)
- Canada: $7.6 billion (1.5%)
- Singapore: $7.5 billion (1.4%)
- Japan: $6.9 billion (1.3%)
- South Korea: $6.1 billion (1.2%)
- Australia: $5.8 billion (1.1%)
- Sweden: $5.7 billion (1.1%)
- Saudi Arabia: $5.5 billion (1.1%)
- Qatar: $4.3 billion (0.8%)
- Norway: $4 billion (0.8%)
- Brazil: $3.2 billion (0.6%)
In 2023, well over four-fifths (84.1%) of overall UK exports was delivered to the above 25 trade partners.
Increasing purchases from the United Kingdom at double-digit percentages were buyers in India (up 27.2% from 2022), Saudia Arabia (up 18.9%), Poland (up 16%) then the United States of America (up 11.5%).
The strongest decliners in demand for the UK’s most valuable customers for its exported products belong to Hong Kong (down -31.9% from 2022), United Arab Emirates (down -26%), Sweden (down -15.1%) and the Netherlands (down -14.1%).
Top 5 Continents for Buying UK Exports
Applying a continental lens and based on 2022 data, exports by value from the United Kingdom were sold to importers located in the continent entities below.
- Europe: US$264.5 billion (53.1% of total UK exports)
- Asia: $128 billion (25.7%)
- North America: $80.8 billion (16.2%)
- Africa: $10.9 billion (2.2%)
- Oceania: $7.15 billion (1.43%)
- Latin America minus Mexico but including the Caribbean: $7.1 billion (1.42%)
UK Exports to EU Countries
By value, the United Kingdom’s exports to all 27 EU members in 2023 represents 42.5% of worldwide UK shipments during 2023. That percentage compares to 44.1% one year earlier in 2022.
The total value of EU purchases from the UK declined by -5.2% from 2022 to 2023.
Below are the top 10 EU customers for Britain’s exported goods during 2023.
- Germany: US$39.9 billion (7.7% of total UK exports)
- Netherlands: $37.2 billion (7.2%)
- Ireland: $34.1 billion (6.6%)
- France: $29.3 billion (5.6%)
- Belgium: $21.3 billion (4.1%)
- Italy: $12.1 billion (2.3%)
- Spain: $11.7 billion (2.3%)
- Poland: $8.2 billion (1.6%)
- Sweden: $5.7 billion (1.1%)
- Denmark: $3.3 billion (0.6%)
Expanding the focus to all 27 EU members, the fastest-growing customers for UK exports were Cyprus (up 27.3% from 2022), Slovakia (up 23.6%), Poland (up 16%), Romania (up 13%) and Hungary (up 8.2%).
The greatest slippage among all EU importers of goods from the UK belongs to buyers in Lithuania (down -36.5% from 2022), Austria (down -35.5%), Sweden (down -15.1%), Netherlands (down -14.1%) and Finland (down -7.7%).
UK’s Major Trade Deficits by Country
The United Kingdom incurred an overall -US$272 billion trade deficit during 2023. That dollar amount represents -4.8% in shrinkage from -$288.8 billion in red ink one year earlier for 2022.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
United Kingdom incurred the highest trade deficits with the following countries.
- China: -US$64.9 billion (country-specific trade deficit in 2023)
- Germany: -$34.5 billion
- Norway: -$28.2 billion
- United States: -$23 billion
- Italy: -$18.1 billion
- Spain: -$14.4 billion
- Kazakhstan: -$13.9 billion
- France: -$11.2 billion
- Poland: -$10.8 billion
- Vietnam: -$8.3 billion
Among the United Kingdom’s trading partners that cause the greatest negative trade balances, the UK’s deficits with France (up 152.4%), Kazakhstan (up 85%) and Spain (up 24.8%) grew at the fastest pace from 2022 to 2023.
These cashflow deficiencies clearly indicate United Kingdom’s competitive disadvantages with the above countries, but also represent key opportunities for United Kingdom to develop country-specific strategies to strengthen its overall position in international trade.
UK’s Major Trade Surpluses by Country
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
United Kingdom earned the highest trade surpluses at the expense of the following countries.
- Switzerland: US$21.8 billion (country-specific trade surplus in 2023)
- Hong Kong, China: $13.9 billion
- Ireland: $13.5 billion
- Netherlands: $10.1 billion
- United Arab Emirates: $6.14 billion
- Singapore: $4.66 billion
- Belgium: $3.1 billion
- Qatar: $2.4 billion
- Saudi Arabia: $2.3 billion
- North Macedonia: $1.3 billion
Among the United Kingdom’s trading partners that generated the greatest positive trade balances, United Kingdom’s surpluses with Belgium (up 138.4%), Saudi Arabia (up 111.1%) and Switzerland (up 4.8%) grew from 2022 to 2023.
In addition, Britain reversed an -$4.55 billion deficit trading with Qatar in 2022 to generate the trade surplus listed above.
The positive cashflow streams for 2023 clearly indicate United Kingdom’s competitive advantages with the above countries, but also represent key opportunities for the United Kingdom to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing UK Trading Partners
Roughly 90 UK corporations rank among Forbes Global 2000. Below is a sample of the major companies headquartered in the UK that appear on the Forbes lists.
- Anglo American (diversified metals, mining)
- Associated British Foods (food processing)
- AstraZeneca (pharmaceuticals)
- BG Group (oil, gas)
- BP (oil, gas)
- British American Tobacco (tobacco)
- Diageo (beverages)
- GlaxoSmithKline (pharmaceuticals)
- Imperial Tobacco Group (tobacco)
- Rio Tinto (diversified metals, mining)
- Rolls-Royce Holdings (aerospace & defense)
- SABMiller (beverages)
According to the UK Export Directory, the following are examples of established companies that ship products from the United Kingdom to its trading partners around the globe. Shown within parenthesis is the product category that the UK-based business specializes in.
- Absolute Battery (UK) Ltd (power supplies, batteries)
- Advanced Technology Laboratories (UK) Ltd (electronics)
- Antech UK Hydraulics (hydraulic motors, other machinery)
- Diamond Offshore (UK) Ltd (drilling equipment)
- Global Communications UK Ltd (broadcast equipment, satellites)
- Gold Major Group (jewelry)
- Johnson Pump (UK) Limited (rotary lobe pumps)
- Knight Plastics Ltd (plastic injection mouldings)
- Nippon Oil Exploration UK Ltd (oil, gas)
- Trumpler UK Ltd (chemicals)
See also United Kingdom’s Top 10 Imports, United Kingdom’s Top 10 Exports, UK’s Major EU Exports, United Kingdom’s Top 10 Major Export Companies and European Union’s Top 10 Exports
Research Sources:
British Exporters, Database of British Products & Verified British Exporters. Accessed on March 3, 2024
Central Intelligence Agency, The World Factbook Country Profiles, Central Intelligence Agency. Accessed on March 3, 2024
Forbes Global 2000, The World’s Largest Public Companies. Accessed on March 3, 2024
International Trade Centre, Trade Map. Accessed on March 3, 2024
Investopedia, Net Importer Definition. Accessed on March 3, 2024