UK overseas trade in goods statistics August 2024: methodology notes
Published 11 October 2024
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Data behind this bulletin is available through the ·É±ð²ú²õ¾±³Ù±ð:Ìý
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ÌýDetailed Trade Statistics data at 8-digit commodity code level is available in our ÌýÌýÌý
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Ìý´¡²µ²µ°ù±ð²µ²¹³Ù±ð OTS data is available in Ìý
Data SourcesÌý
From 31 December 2020, the free movement of people and goods and services between the UK and the European Union (EU) ended. This meant the way HMRC had been collecting trade in goods statistics was revised.ÌýÌýÌý
UK to EU exportsÌýÌýÌý
For goods moving from 1 January 2021, GB to EU export statistics have been compiled directly from customs export declarations made according to the requirements of the Taxation (Cross Border Trade) Act. Intrastat survey returns, however, continued to be collected for goods exported from Northern Ireland to the EU, under the terms of the Northern Ireland Protocol.ÌýÌýÌý
Both the GB to EU customs export declaration data and NI Intrastat export (dispatch) data were incorporated into the overall UK to EU export dataset.ÌýÌý
As a result of the changes and differences outlined above, there was a break in the timeseries for published UK to EU export statistics from January 2021.Ìý
UK imports from EUÌýÌýÌý
UK imports from EU statistics were not impacted by any change in 2021. The Intrastat survey continued to operate for all UK (GB and NI) imports (arrivals) from the EU, to mitigate the effects of staging customs controls, and to comply with the Northern Ireland Protocol.Ìý
However, from 1 January 2022, Intrastat only applied for movements of goods between Northern Ireland and the EU. Statistics on movements to GB from the EU have been compiled directly from customs import declarations. Both the EU to GB customs import declaration data and NI Intrastat import (arrivals) data were incorporated into the overall EU to UK import dataset.Ìý
As a result of the changes and differences outlined above, there was a break in the timeseries for published EU to UK import statistics from January 2022.Ìý
Northern Ireland TradeÌýÌýÌý
Figures derived from Intrastat include the following:ÌýÌýÌý
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ÌýEstimates for businesses who have yet to submit detailed data on the trade they had with other EU Member States this monthÌýÌýÌý
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ÌýEstimates for businesses who do not have to submit detailed data on the trade they have with other EU Member StatesÌýÌýÌý
Estimates are included in all high-level totals including commodity (HS2) and country totals.Ìý
Non-EU tradeÌý
Non-EU trade statistics are compiled from customs declarations collected by the CHIEF (Customs Handling of Import and Export Freight) system. Declarations collected via the Customs Declarations Service (CDS) are included: for imports from August 2020 month of account; and for exports from December 2020 month of account onwards. Detailed trade information is presented according to the nomenclature.Ìý
Low Value TradeÌý
For trade in goods collected from custom declarations (UK trade with non-EU and GB trade with EU), imports and exports of an individual value of £873 or less are aggregated under SITC group 931 â€� ‘Special transactions and commodities not classified according to kindâ€�, and classified to a single commodity code â€� 99500000. This trade is not analysed either by commodity or country. Statistics for individual commodities are therefore deficient by these amounts.ÌýÌý
For Intrastat (NI-EU), transactions (that is, invoice lines) with a value of £175 or less can be aggregated and classified to a single commodity code (9950 0000).ÌýÌý
As a result, trade in some commodities may appear as nil trade, if all trade in that commodity falls in the low value aggregate.Ìý
MethodologyÌý
The UK overseas trade statistics: methodologies covers:Ìý
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data sourcesÌýÌý
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classifications and definitionsÌý
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quality assuranceÌý
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publications andÌýÌý
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governanceÌý
It is a useful companion to the trade data, providing the definitions and methodologies on which the data are based. The most recent changes in the OTS methodology are covered in this paper.ÌýÌýÌý
GoldÌý
HMRCÌýcollects data on gold. Gold may be held as a reserve asset by a monetary authority. If so, this gold is classified as monetary gold and is recorded in theÌýUKÌýNational Accounts (compiled by the Office for National Statistics) but excluded fromÌýOTS.Ìý
Gold that is not held as a reserve asset by a monetary authority is classified as non-monetary gold (NMG) and is included in theÌýOTS. This forms part of Precious metals and includes scrap and jewellery.Ìý
Data relating to monthly import and export totals for January 2018 onwards with a breakdown of non-monetary gold is available in theÌý.Ìý
Relationship with other statistical publicationsÌýÌý
The aggregate estimates here will differ slightly from those that are published by the Office for National Statistics (ONS) as part of the , as the 2 sets of data are compiled to different sets of rules. The ONS website provides an overview of BoP, where you can find their detailed monthly . The BoP publication shows a high-level picture of UK trade-in-goods, whereas the OTS publication shows a detailed picture of the UK’s trade-in-goods by commodity and partner country.ÌýÌýÌý
Accredited official statistics publicationÌý
TheÌýUKÌýoverseas trade in goods statistics (OTS) were independently reviewed by the Office for Statistics Regulation in October 2010 with publication of theÌý in February 2011. They comply with the standards of trustworthiness, quality and value in the Code of Practice for Statistics and should be labelled ‘accredited official statisticsâ€�. are called National Statistics in the Statistics and Registration Service Act 2007.ÌýÌý
HM Revenue & Customs released these latest statistics on overseas trade with countries on 11 October 2024 under arrangements set out in the .ÌýÌý
This release includes the first provisional estimates of trade in goods between theÌýUKÌýand both countries of theÌýEUÌýand those outside theÌýEUÌýfor August 2024. At the same time revisions for all previously published non-EUÌýandÌýEUÌýdata for 2024 are also being released in line with theÌýHM Revenue & Customs Policy on Revisions.Ìý
The unscheduled that were announced on on 7 AugustÌý 2024 have been included in this release.
The next three publications are due for release on the following days:Ìý
Month of Account | First release date | ÌýÌý |
September 2024 | 15 November 2024 | ÌýÌýÌý |
October 2024 | 13 December 2024 | ÌýÌý |
November 2024 | 16 January 2025 | Ìý |
Our statistical practice is regulated by the Office for Statistics Regulation (OSR).Ìý
OSR sets the standards of trustworthiness, quality and value in the that all producers of official statistics should adhere to.ÌýÌý
You are welcome to contact us directly with any comments about how we meet these standards by emailing [email protected].Ìý
Alternatively, you can contact OSR by emailing [email protected] or via the .Ìý