UK trade in goods by declared currency of invoice 2024
Published 24 April 2025
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About this release
This release provides the estimates on trade in goods by currency as declared on the Customs system for 2024.
Currency of invoice summary
Data received through the administrative Customs system for trade movements between the UK and other countries includes currency of invoice declared. This release reports on the currency used.
Following data collection and methodology changes, currency of invoice was collected for:
-
UK and non-EU exports and imports for 2022 to 2024
-
GB exports to the EU for 2022 to 2024
-
GB imports from the EU for 2022 to 2024
Exports
27% of the value of UK exports to EU countries had Pound sterling as the declared currency of invoice
58% of the value of UK exports to non-EU countries had the US dollar as the declared currency of invoice
Table 1: Breakdown of currency of invoice for UK exports to EU and non-EU countries in 2024 as a percentage of total value
| Currency | Exports to EU | Exports to non-EU | Total exports | |
|---|---|---|---|---|
| US dollar | 12.6% | 58.1% | 38.3% | |
| Pound sterling | 27.5% | 21.4% | 24% | |
| Euro | 26.5% | 4.5% | 14.1% | |
| Chinese yuan | not included | 1.8% | 1% | |
| Swedish krone | 0.5% | not included | not included | |
| Other currencies | 0.5% | 3.8% | 2.6% | |
| No currency declared | 32.4% | 10.5% | 20% | |
| Total | 100% | 100% | 100% | |
| Value of exports (£ million) | 174,900 | 226,308 | 401,208 |
Table 1 shows that the US dollar was the most frequently declared currency for total exports. Pound sterling led for exports to EU countries, with Euro in a close second place. The US dollar dominated for exports to non-EU countries.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Notes:
2024 data is provisional.
Only data received through the administrative Customs data collection has currency of invoice declared.
‘No currency declared’ includes trade reported through separate systems, such as Intrastat and parcel post, and some mineral fuels.
Where a currency does not appear in the top 4 under the relevant trade flow, this is indicated by ‘not included‘.
The figures in this release exclude non-response estimates and therefore will not match other published figures.
Table 2: Top 4 currencies of invoice for UK exports to EU countries as a percentage of total value, 2022 to 2024
| Year | Pound sterling | Euro | US dollar | Swedish krone | |
|---|---|---|---|---|---|
| 2022 | 33.3% | 25.1% | 19.3% | 0.5% | |
| 2023 | 32.4% | 26.5% | 18.4% | 0.4% | |
| 2024 | 27.5% | 26.5% | 12.6% | 0.5% |
Table 2 shows the recent history of the top 4 currencies used for UK exports to EU countries from 2022 to 2024.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Notes:
2024 data is provisional.
Only data received through the administrative Customs data collection has currency of invoice declared.
The percentages do not add to 100% as they do not include other currencies or where no currency is declared.
Table 2 indicates a steady decrease in the use of Pound sterling, while the Euro remained stable. There was a decrease in the use of the US dollar in 2024. There was little change in the percentage of trade where the Swedish krone was declared. Invoices with no currency declared increased from 21.7% to 32.4%.
Table 3: Top 4 currencies of invoice for UK exports to non-EU countries as a percentage of total value, 2022 to 2024
| Year | US dollar | Pound sterling | Euro | Chinese yuan | |
|---|---|---|---|---|---|
| 2022 | 58.4% | 25.2% | 3.9% | 1.5% | |
| 2023 | 56.5% | 26.9% | 4.4% | 1.6% | |
| 2024 | 58.1% | 21.4% | 4.5% | 1.8% |
Table 3 shows the recent history of the top 4 currencies used for UK exports to non-EU countries from 2022 to 2024.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Notes:
2024 data is provisional.
Only data received through the administrative Customs data collection has currency of invoice declared.
The percentages do not add to 100% as they do not include other currencies or where no currency is declared.
Table 3 indicates an increase in the use of US dollar in 2024. The use of Pound sterling decreased in 2024, to its lowest proportion over this period. The use of Chinese yuan has shown a gradual increase over this period. Invoices with no currency declared increased from 6.9% to 10.5%.
Imports
39% of the value of UK imports from EU countries had Euro as the declared currency of invoice
64% of the value of UK imports from non-EU countries had the US dollar as the declared currency of invoice
Table 4: Breakdown of currency of invoice for UK imports from EU and non-EU countries in 2024 as a percentage of total value
| Currency | Imports from EU | Imports from non-EU | Total imports | |
|---|---|---|---|---|
| US dollar | 13.3% | 63.5% | 38.5% | |
| Pound sterling | 38.9% | 19.3% | 29.1% | |
| Euro | 39.2% | 4.1% | 21.6% | |
| Canadian dollar | not included | 2% | 1% | |
| Polish zloty | 0.4% | not included | not included | |
| Other currencies | 0.6% | 2.9% | 2% | |
| No currency declared | 7.5% | 8.1% | 7.8% | |
| Total | 100% | 100% | 100% | |
| Value of imports (£ million) | 318,239 | 319,767 | 638,005 |
Table 4 shows that the US dollar dominated for imports from non-EU countries. Euro was slightly ahead of Pound sterling for EU imports, with US dollar in third place.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Notes:
2024 data is provisional.
Only data received through the administrative Customs data collection has currency of invoice declared.
‘No currency declared’ includes trade reported through separate systems, such as Intrastat, parcel post, and some mineral fuels.
Where a currency does not appear in the top 4 under the relevant trade flow, this indicated by ‘not included‘.
The figures in this release exclude non-response estimates and therefore will not match other published figures.
Table 5: Top 4 currencies of invoice for UK imports from EU countries as a percentage of total value, 2022 to 2024
| Year | Euro | Pound sterling | US dollar | Polish zloty | |
|---|---|---|---|---|---|
| 2022 | 36.9% | 36.8% | 14.1% | 0.4% | |
| 2023 | 34.3% | 35.8% | 13.1% | 0.4% | |
| 2024 | 39.2% | 38.9% | 13.3% | 0.4% |
Table 5 shows the recent history of the top 4 currencies used for UK imports from EU countries from 2022 to 2024.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Notes:
2024 data is provisional.
Only data received through the administrative Customs data collection has currency of invoice declared.
The percentages do not add to 100% as they do not include other currencies or where no currency is declared.
Table 5 indicates an increase in the use of the Euro and Pound sterling in 2024, while the use of US dollar remained relatively stable. There was little change in the percentage of trade where the Polish zloty was declared. Invoices with no currency declared decreased from 15.9% to 7.5%.
Table 6: Top 4 currencies of invoice for UK imports from non-EU countries as a percentage of total value, 2022 to 2024
| Year | US dollar | Pound sterling | Euro | Canadian dollar |
|---|---|---|---|---|
| 2022 | 56.5% | 20% | 3.9% | 2.1% |
| 2023 | 58.2% | 18.2% | 4.3% | 1.5% |
| 2024 | 63.5% | 19.3% | 4.1% | 2% |
Table 6 shows the recent history of the top 4 currencies used for UK imports from non-EU countries from 2022 to 2024.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Notes:
2024 data is provisional.
Only data received through the administrative Customs data collection has currency of invoice declared.
The percentages do not add to 100% as they do not include other currencies or where no currency is declared.
Table 6 indicates an increase in the use of the US dollar from 2022 to 2024. The use of Pound sterling increased in 2024 after decreasing in 2023. There was an increase in the use of Canadian dollar in 2024. Invoices with no currency declared decreased from 15.0% to 8.1%.