UK's goods trade deficit down to $27.2B in September

ISTANBUL

The UK's trade balance posted a deficit of £20.7 billion ($27.18 billion) in September, down from the previous month, the Office for National Statistics (ONS) said Thursday.

The market had expected the monthly deficit to come in at £20.8 billion in September.

The country's exports totaled £29.4 billion in current prices in September, down 5.5% month-on-month, while goods imports reached £50.1 billion, also falling 2%.

Exports to EU member states were at £14.4 billion, down 2.7% monthly, while imports came in at £26.5 billion, declining 3.3%, resulting in a deficit of £12.1 billion.

The trade deficit to non-EU countries was £8.6 billion, with exports dropping 8% to £15 billion and imports falling 0.5% to £23.6 billion.

Exports to the US plummeted 11.4%, mainly due to falls in exports of chemicals as well as machinery and transport equipment

Meanwhile, imports from the US also declined £0.5 billion, primarily due to a fall in buying of refined and crude oil.

"The value of goods exports to the United States in September 2025 were at their lowest level since January 2022 and have remained relatively low since the introduction of tariffs in April," it noted.

"There have been considerable changes in the United States international trade policy in recent months, which has posed challenges for UK businesses," the statistics office noted.

Some 34% of businesses with 10 or more employees that had exported goods in the last 12 months said they were impacted by US tariffs in the last month, according to the ONS.

It added that the most reported impact was additional costs, with 22% of business reporting this.