The export trade of the European Union experienced some notable shifts over the two decades since 2002, with China emerging as a significant export market and the United Kingdom losing its place as the EU's single largest export partner. The United Kingdom's declining share of EU exports The UK, which was a member of the European Union until 2020, declined in its importance as an export market for EU producers over this period. Representing over a fifth of the export trade in 2002, the UK now takes only 13 percent of EU exports, and looks likely to be eclipsed by China's growing share in the coming years. The complications to EU-UK trade caused by the UK's exit agreement with the EU is also likely to contribute to slowing trade flows between the two partners. China's emergence as a key export market As with most other areas of the global economy, the past two decades has largely been the story of China's emergence as a key trading partner. China's share of EU exports was comparable to Japan or Norway at the beginning of the period, while it now represents the EU's third largest export market. While this is a significant change, China takes up a much larger share of imports into the EU, where it is the largest single trading partner. As Chinese incomes rise in the coming decades, the significance of China as an export market for EU producers is likely to rise, geopolitical tension notwithstanding. The Euro and exports to the U.S. The EU's export trade with the United States over this period experienced a relative decline in the period running up to 2014, as the Euro appreciated in its value against the U.S. dollar, making European exports more expensive for Americans. This declining share of the EU's export trade taken by the U.S. was reversed in the latter half of the 2010s however, as the Euro depreciated and European exports to the U.S. increased. Issues with Russia Another notable trend over the period was Russia's emergence as a key export market in the mid-2000s, as the Russian economy grew quickly and Russian consumers began to demand EU made products. Russia declined as a market for EU exports after 2014, as trade was complicated by Russia's illegal annexation of Crimea from Ukraine, and the subsequent devaluation of the Ruble and collapse in the price of Ural crude oil.

The statistic shows the trade balance of goods (exports minus imports of goods) in the United Kingdom from 2013 to 2023. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2023, the trade deficit of goods in the United Kingdom amounted to about ****** billion U.S. dollars. On the effects of Brexit on the UK's economy The United Kingdom has maintained a trade deficit over the last ten years, but now that the country has chosen to leave the European Union, current trade agreements will need to be renegotiated and trade relationships and the trade balance will change. As of 2015, one of the UK’s most important import and export partners was Germany, but it also trades heavily with many other countries within the European Union; more than half of total value of the UK trade in goods is associated with European Union countries. Trade agreements which have been negotiated by the European Union extend beyond member countries, and the United Kingdom will now have to renegotiate its own trade deals with a far larger number of countries by itself. It remains to be seen as to how the UK will manage these negotiations. Another big question is how the UK banking sector will be able to access the European market. Services contributed close to ** percent of UK GDP, which includes banking services. While it is too soon predict how Brexit will impact the United Kingdom entirely, estimates of the decision’s long term effects estimate negative GDP growth of around **** percent in an optimistic scenario, with the pessimistic scenario estimating negative growth of around *** percent.

The value of UK goods exported to Nigeria have seen fluctuations since 2012. In 2022, trade goods dispatched to Nigeria from the UK were worth around *** billion U.S. dollars, a slight increase on the year prior. The value of goods imported from Nigeria to the UK saw similar fluctuations, Nigeria had a slight trade surplus from its trade activities with the UK.

  Mineral fuels a valuable trade material   The UK is one of the most important import partners for Nigeria. Among the leading goods that the UK sends to Nigeria are mineral fuels and lubricants. Over the years, the value of UK export of such materials fluctuated before reaching ***** million U.S. dollars in 2017.

   UK-Nigeria trade under WTO   Nigeria is among the largest markets for UK exports. Currently, there is no existing trade deal between the United Kingdom and Nigeria, but the two countries trade under World Trade Orginastion terms, with a ‘Most Favoured Nation’ status granted to the UK.

India recorded a trade deficit of 18.78 USD Billion in June of 2025. This dataset provides the latest reported value for - India Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.