United Kingdom: Terms of trade

The latest value from 2024 is 99.2 percent, an increase from 95.6 percent in 2023. In comparison, the world average is 105.73 percent, based on data from 189 countries. Historically, the average for the United Kingdom from 2005 to 2024 is 92.23 percent. The minimum value, 84.3 percent, was reached in 2020 while the maximum of 108.7 percent was recorded in 2013. See the global rankings for that indicator or use the country comparator to compare trends over time.

The terms of trade for the United Kingdom are calculated as the value of its exports as percent of the value of its imports. An increase in the terms of trade means that the value of exports is increasing relative to the value of imports. The country can afford to buy more imports with the revenue from its exports. For example, an increase in the price of oil increases (improves) the terms of trade for the oil-exporting countries and lowers it for the other countries.

Definition: Net barter terms of trade index is calculated as the percentage ratio of the export unit value indexes to the import unit value indexes, measured relative to the base year 2015.