The authoritative source for independent research on UK-EU relations

Economy

Relationship with the EU

This fact was correct when it was updated on 01 Jul 2021

How important is the EU market to UK trade?

The EU is by far the UK’s most important trading partner. Exports to the EU made up 43% of the UK’s total exports (goods and services) in 2019 and the EU was the source of 51% of UK imports. Services accounted for 43% of UK exports. Both have exports to and imports from the EU have declined since the early 2000s. The UK had an overall trade deficit of £72 billion with the EU in 2019. A surplus of £23 billion on trade in services was outweighed by a deficit of £95 billion on trade in goods. The UK’s next largest trading partner is the US accounting for 19% of exports in 2018 and 11% of imports.

Read more about the EU’s single market here.

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