UK Trade with EU

Department for Business, Innovation and Skills written question – answered on 17th November 2015.

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Photo of Lord Stoddart of Swindon Lord Stoddart of Swindon Independent Labour

To ask Her Majesty’s Government what was the deficit in trade with the EU in 2014 in (1) goods, and (2) overall in goods and services; and how that deficit is financed.

Photo of Lord Maude of Horsham Lord Maude of Horsham The Minister of State, Department for Business, Innovation and Skills, The Minister of State, Foreign and Commonwealth Office

The UK’s trade in goods deficit with the EU was £78.9bn in 2014. The overall trade in goods and services deficit with the EU was £61.7bn.

The UK’s total trade deficit is financed by a net inflow of investment in the financial account, for which data is not available on a geographical basis. The UK’s financial account surplus was £89.4bn in 2014.

Source: ONS Pink Book 2015

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