BCC Press Release: UK firms show resilience in more difficult trading world
UK Trade in January 2025
Total UK exports in goods and services rose by 2.8% in the first month of the year, with goods exports up by 3.5% on this measure, and services exports up by 2.3% month on month.
Total import volumes into the UK fell by 0.9% in January, with goods imports down by 1.7% in volume terms, while services imports rose by 0.6% in January.
Non-EU goods exports had particularly strong growth in January with a rise of 5.7% in volume terms, while EU goods exports rose by 1.3% month on month. On imports, goods imports from the EU fell by 2.4% in volume terms in January, while non-EU goods imports experienced a less steep decline, with only a 1% drop in volumes.
Goods exports to the USA rose by £0.1bn during January.
Responding to the newly released UK trade data, BCC Head of Trade Policy William Bain said:
“Despite geopolitical uncertainties around global trade, January was a bright start to the year by UK goods and services exporting companies in both EU and non-EU markets.
“Total goods exports rose by 3.5% month on month, and services exports by 2.3%. Imports held up, but EU goods imports fell by 2.4% during January.
“UK companies are showing resilience in a more difficult trading world. With US tariffs now a reality, the prospect of more to follow, and retaliatory tariffs by some of our trading partners, the rest of 2025 could be challenging for UK exporters in particular.
“That is why the forthcoming Industrial and Trade Strategies need to provide practical measures to help boost export performance in key UK sectors – from professional and business services, and advanced manufacturing, to defence and life sciences.
“We also need to see the Government push for a new settlement with the EU, our biggest trading partner, to help remove barriers for UK businesses and support them to grow and expand.”