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Technically named the United Kingdom of Great Britain and Northern Ireland, the UK shipped 401.9 billion dollars worth of goods around the globe in 2020. That dollar amount reflects a minus 2.3 percent decrease since 2016 and a minus 14.2 percent drop from one year earlier in 2019.
Based on the average exchange rate for 2020, the British pound depreciated by minus 5.3 percent against the US dollar since 2016 and increased by 0.4 percent from 2019 to 2020. The UK’s stronger local currency in 2020 makes British exports paid for in slightly weaker US dollars relatively less expensive for international buyers.
Britain’s biggest export products by value in 2020 were cars, gold, turbo jets, medication mixes in dosage, and crude oil. In aggregate, those major exports account for 25.5 percent of overall export sales from the United Kingdom. Those commodities suggest a diversified range of exported goods.
The United Kingdom ranks among the world's leading nations for exporting aircraft parts, platinum, and gold.
The latest available country-specific data shows that 68.4 percent of products exported from the UK were bought by importers in the United States with 14.8 percent of the global total, Germany with 10.5 percent, Ireland with 7.1 percent, the Netherlands with 6.4 percent, France with 6.1 percent, Switzerland with 5 percent, China with 4.8 percent, Belgium with 3.5 percent, Spain with 2.8 percent, Italy with 2.8 percent, Hong Kong with 2.7 percent and Canada with 1.9 percent.
From a continental perspective, 54.1 percent of exports by value from the United Kingdom were delivered to fellow European countries compared to 46.1 percent for European Union members. In addition, 21.2 percent were sold to Asian importers. The United Kingdom shipped another 16.5 percent worth of goods to North America. Smaller percentages of 2.1 percent went to Africa, Oceania led by Australia and New Zealand got 1.5 percent then Latin America excluding Mexico but including the Caribbean got 1.3 percent.
Given the United Kingdom’s population of 67.3 million people, its total 401.9 billion dollars in 2020 exported products translates to roughly 6,000 dollars for every resident in the western European economic powerhouse.
United Kingdom’s Top 10 Exports
The following export product groups categorize the highest dollar value in UK global shipments during 2020. Also shown is the percentage share each export category represents in terms of overall exports from Great Britain.
Machinery including computers accounts for 60.4 billion dollars which are 15 percent of total exports
Gems, and precious metals account for 43.3 billion dollars which is 10.8 percent
Vehicles account for 36.4 billion dollars which is 9.1 percent
Mineral fuels including oil account for 26.4 billion dollars which is 6.6 percent
Electrical machinery, and equipment account for 25 billion dollars which is 6.2 percent
Pharmaceuticals account for 24.8 billion dollars which is 6.2 percent
Optical, technical, and medical apparatus account for 17.6 billion dollars which is 4.4 percent
Aircraft, and spacecraft account for 13.2 billion dollars which is 3.3 percent
Organic chemicals account for 12.1 billion dollars which is 3 percent
Plastics, and plastic articles account for 10.6 billion dollars which is 2.6 percent
The United Kingdom’s top 10 exports accounted for roughly two-thirds or 67.1 percent of the overall value of its global shipments.
Gems and precious metals were the lone growers among the top 10 export categories, up by 1.7 percent since 2019.
The leading decliner among United Kingdom’s top 10 export categories were mineral fuels including oil which fell by minus 35.5 percent year over year, weighed down by lower international sales from both crude and processed petroleum oils. Other major decreases belong to aircraft and spacecraft went down by minus 28.2 percent and vehicles down by minus 27.9 percent exported from the UK.
United Kingdom’s Top 10 Imports
The United Kingdom imported 631.9 billion dollars worth of goods from around the globe in 2020. That metric reflects a minus 0.7 percent decrease since 2016 and a minus 8.8 percent downtick from 2019 to 2020.
Based on the average exchange rate for 2020, the British pound depreciated by minus 5.3 percent against the US dollar since 2016 but increased by 0.4 percent from 2019 to 2020. The UK’s stronger local currency in 2020 makes its imports paid for in slightly weaker US dollars relatively less expensive when converted starting from the British pound.
UK’s imports represent 3.3 percent of total global imports which totaled an estimated 19.085 trillion dollars one year earlier in 2019.
From a continental perspective, over half or 53.7 percent of the United Kingdom’s total imports by value in 2020 were purchased from fellow European countries compared to 47.2 percent from European Union members. Asian trade partners supplied 26.1 percent of import purchases by the United Kingdom while 12.1 percent originated from North America.
Smaller percentages of 2.1 percent came from Africa, Oceania with 1.8 percent led by Australia and New Zealand then Latin America got 1.2 percent including the Caribbean but excluding Mexico.
Given the United Kingdom’s population of 67.3 million people, its total of 631.9 billion dollars in 2020 imports translates to roughly 9,400 in yearly product demand from every person living in the United Kingdom.
The following product groups represent the highest dollar value in the United Kingdom’s import purchases during 2020
Gems, and precious metal accounts for 108.4 billion dollars which is 17.2 percent of total imports
Machinery including computers with 70.2 billion accounts for 11.1 percent
Vehicles with 58 billion dollars account for 9.2 percent
Electrical machinery, and equipment accounts for 55.8 billion dollars which is 8.8 percent
Mineral fuels including oil accounts for 34 billion dollars which is 5.4 percent
Pharmaceuticals account for 25.9 billion dollars which is 4.1 percent
Optical, technical, and medical apparatus account for 18.9 billion dollars which is 3 percent
Plastics, and plastic articles account for 18.1 billion dollars which is 2.9 percent
Clothing, and accessories not knit or crochet accounts for 11.8 billion dollars which is 1.9 percent
Knit or crochet clothing, and accessories which is 11.1 billion account for 1.7 percent.
The United Kingdom’s top 10 imports accounted for roughly two-thirds or 65.2 percent of the overall value of its product purchases from all countries.
The gems and precious metals category posted the sole increase from 2019 to 2020, up by 21.6 percent notably for gold and platinum.
Leading the decliners were the mineral fuels including the oil category via its minus 39.7 percent decline year over year. Other major imports that declined greatly year over year were UK imports of vehicles down by minus 22.5 percent and machinery including computers down by minus 16.6 percent.
United Kingdom’s Top Trading Partners
Comprised of England, Northern Ireland, Scotland, and Wales, the United Kingdom is a sovereign state situated across continental Europe’s north-western coast.
The United Kingdom sent 401.9 billion dollars worth of goods around the globe in 2020. That dollar amount reflects a minus 2.3 percent decrease since 2016 and a minus 14.2 percent drop from one year earlier in 2019.
Applying a continental lens, 54.1 percent of exports by value from the United Kingdom were delivered to fellow European countries compared to 46.1 percent for European Union members. In addition, 21.2 percent were sold to Asian importers. The United Kingdom shipped another 16.5 percent worth of goods to North America.
Smaller percentages of 2.1 percent went to Africa, Oceania led by Australia and New Zealand with 1.5 percent then Latin America excluding Mexico but including the Caribbean got 1.3 percent.
Here is a list showcasing 15 of the 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 2020. Also shown is each import country’s percentage of total UK exports.
United States accounts for 57.5 billion dollars which is 14.3 percent of total UK exports
Germany with 41.1 billion dollars which is 10.2 percent
Ireland with 27.5 billion dollars which is 6.8 percent
The Netherlands with 24.9 billion dollars which is 6.2 percent
France with 23.7 billion dollars which is 5.9 percent
Switzerland with 19.4 billion dollars which is 4.8 percent
China with 18.6 billion dollars which is 4.6 percent
Belgium with 13.5 billion dollars which is 3.4 percent
Spain with 11.1 billion dollars which is 2.8 percent
Italy accounts for 11 billion dollars which is 2.7 percent
Hong Kong accounts for 10.6 billion dollars which is 2.6 percent
Canada accounts for 7.5 billion dollars which is 1.9 percent
Japan accounts for 7.3 billion dollars which is 1.8 percent
Turkey accounts for 6.4 billion dollars which is 1.6 percent
United Arab Emirates accounts for 6.3 billion dollars which is 1.6 percent
Approaching three quarters or 71.2 percent of UK exports in 2020 were delivered to the above 15 trade partners.
Two among the top 15 importers increased the value of their deliveries from the UK from 2019 to 2020, namely Switzerland which was up by 24.2 percent, and Canada up by 12.2 percent.
Leading the decliners were the United Arab Emirates down by minus 36.8 percent and France down by minus 24.5 percent.
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