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UK Sees Foreign Trade Deficit of $31B in 2024

London: The UK's trade balance posted a deficit of £25.1 billion (some $31.3 billion) in 2024, the Office for National Statistics announced on Thursday. The country's total exports totaled £832.6 billion, up 0.7% year-on-year, while total imports reached £857.6 billion, down 0.9% in 2024, the office said.

According to Anadolu Agency, in the last quarter, total exports dropped by 0.6% to £206.3 billion, while total imports rose by 1.3% to £216.2 billion, versus the third quarter. For goods exports, the US was the main destination with £58.7 billion, while Germany was the main import source with £71.1 billion in 2024.

Cars became the main item in both the exports and imports of the country last year.