{"id":138746,"date":"2024-04-15T11:32:11","date_gmt":"2024-04-15T10:32:11","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=138746"},"modified":"2024-04-15T11:32:11","modified_gmt":"2024-04-15T10:32:11","slug":"building-materials-trade-deficit-exceeds-14bn","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/building-materials-trade-deficit-exceeds-14bn\/138746\/","title":{"rendered":"Building materials trade deficit exceeds \u00a314bn\u00a0\u00a0"},"content":{"rendered":"<h2>Calculating the difference between what the UK exports and imports, the current building materials trade deficit far exceeds the target set in the <a href=\"https:\/\/www.gov.uk\/government\/publications\/construction-2025-strategy\" target=\"_blank\" rel=\"noopener\">Construction 2025 strategy<\/a> document<\/h2>\n<p>Despite shrinking by 14% in 2023, it seems near impossible for the UK&#8217;s building materials trade deficit to meet the 2025 targets set out in 2013.<\/p>\n<p>In 2013, the building materials trade deficit sat at \u00a36bn. The Government target wanted to half that to \u00a33bn by 2025.<\/p>\n<p>However since 2019, the building materials trade deficit only fell below \u00a310bn once, in 2020, where it was undoubtedly influenced by the extenuating circumstances of the pandemic.<\/p>\n<h3>The UK is still importing more building materials than it exports<\/h3>\n<p>In 2023, the UK imported \u00a314,189m more building materials than it exported. This represents a 14% reduction, or \u00a32,357m than 2022&#8217;s import figure of \u00a316,547m.<\/p>\n<h4>The top five markets that the UK imported from in 2023 were:<\/h4>\n<ul>\n<li>China (\u00a34,538m)<\/li>\n<li>Germany (\u00a32,139m)<\/li>\n<li>Italy (\u00a31,312m)<\/li>\n<li>Spain (\u00a31,259m)<\/li>\n<li>Turkey (\u00a31,061m)<\/li>\n<\/ul>\n<p>The top five import markets comprised 45.3% of total <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/challenges-procuring-sustainable-materials-construction-projects\/138189\/\" target=\"_blank\" rel=\"noopener\">construction materials imports<\/a> in 2023. Around 19.9% of all imports are from China.<\/p>\n<h4>The top five export markets were:<\/h4>\n<ul>\n<li>Ireland (\u00a31,558m)<\/li>\n<li>USA (\u00a31,011m)<\/li>\n<li>Germany (\u00a31753m)<\/li>\n<li>Netherlands (\u00a3651m)<\/li>\n<li>France (\u00a3554<\/li>\n<\/ul>\n<p>The top five export markets comprised 52.9% of total construction materials exports in 2023. Ireland is the largest export market, with a share of 18.2% of total exports.<\/p>\n<h4>The top five exported materials in 2023 were:<\/h4>\n<ul>\n<li>Electrical wires (\u00a31,023m)<\/li>\n<li>Paints and varnishes (\u00a3862m)<\/li>\n<li>Lamps and fittings (\u00a3422m)<\/li>\n<li>Air conditioning equipment (\u00a3419m)<\/li>\n<li>Linoleum floor coverings (\u00a3360m)<\/li>\n<\/ul>\n<h4>The top five imported materials were:<\/h4>\n<ul>\n<li>Electrical wires (\u00a32,756m)<\/li>\n<li>Lamps and fittings (\u00a31,090m)<\/li>\n<li>Sawn wood and 6mm thick (\u00a31,024m)<\/li>\n<li>Air conditioning equipment (\u00a3994m)<\/li>\n<li>Builders ironmongery (\u00a3915m)<\/li>\n<\/ul>\n<p>All figures are taken from the Government&#8217;s <a href=\"https:\/\/www.gov.uk\/government\/statistics\/building-materials-and-components-statistics-march-2024\/construction-building-materials-commentary-march-2024#summary-of-results\" target=\"_blank\" rel=\"noopener\">latest commentary<\/a>.<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Calculating the difference between what the UK exports and imports, the current building materials trade deficit far exceeds the target set in the Construction 2025 strategy document. <\/p>\n","protected":false},"author":25,"featured_media":138748,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[908,431],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-138746","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-planning-construction-news","8":"tag-economy","9":"tag-plant-equipment-supplies"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Building materials trade deficit exceeds \u00a314bn\u00a0\u00a0 | Planning, Building &amp; 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