United Kingdom Imports

Imports of goods and services into the United Kingdom rose by 1.4% from the previous month to £72.39 billion in January, rebounding from a near two-year low of £71.36 billion reached in December. Notably, goods imports from the EU rose by 0.7%, attributed primarily to the growing purchases of fuels, including increased imports of refined oil from Sweden and crude oil from Norway, as well as food and live animals, with smaller upticks in other commodities. Conversely, imports of machinery and transport equipment from the bloc experienced a decline due to reduced imports of aircraft from Germany and France. Meanwhile, imports from non-EU countries surged by 3.8%, fueled by increases in purchases of miscellaneous manufactures, particularly clothing imports from Bangladesh and China, as well as imports of works of art from the US, and fuels such as gas and both refined and crude oil from the US. Finally, imports of services saw a slight increase of 0.4%.