Volume trade balance improving but value continues to falter

Published 28 February 18

The UK dairy trade balance, while still at a deficit, improved in 2017 for volumes of product, following a blip in 2016. However, the value trade balance has got worse rather than bounced back.

23.02.18 trade graph

Although the value of UK exports increased, mainly due to trade with the EU, the value of imports increased more, increasing the overall trade deficit.

23.02.18 trade table

Demand for dairy was up in 2017 and, although UK milk production increased, production of most products was still recovering from the loss seen in 2016 – see here for more. It seems some higher value products were required to satisfy demand. AHDB will be looking at product specific trade in the coming weeks.