The UK is currently a net exporter of dairy products to the US according to HMRC data. In 2020, 9,300 tonnes of dairy products were exported to the US from the UK, valued at £52 million. Exports were predominantly of cheese (81%), while butter accounted for 13%. The remainder was made up of other dairy products such as whey. Cheese also contributed the most to the value of exports in 2020 (85%) with Cheddar being the predominate variety.
Import volumes of dairy products entering the UK from the US were up year-on-year, although remain small at 562 tonnes. This was primarily made up of whey products (94%).
The volume of exports in 2020 did drop back on year earlier levels which may be, in part, due to tariffs being imposed on dairy products as a result of the Airbus dispute back in 2019.
However, with the majority of UK cheese exports being value-added products, and directed towards consumer markets, demand is likely to be less sensitive to price, helping to mitigate the impact of tariffs or exchange rate fluctuations.
