UK trade deficit narrows

10-11-2006

UK trade deficit narrows
Britain's overall trade deficit fell by £0.4 billion to £4.1 billion during September, official figures have revealed.

The Office for National Statistics (ONS) today said that the deficit on a quarterly basis remained broadly flat at £13.3 billion, after surpluses in services were offset by ongoing trading shortfalls.

In September the value of imports and exports to the UK both fell, with Britain's deficit with EU countries steady as trade with non-EU states rose by £0.3 billion.

On a quarterly basis, the deficit on trade in goods widened by £0.6 billion to £20.5 billion, with exports and imports down 14.5 per cent and 10.5 per cent respectively.

"The latest estimate of the trend suggests that the whole world goods deficit is fairly flat. The trends in the value of trade show both exports and imports are fairly flat in recent months," an ONS spokesperson said.

As to the destination and origin of exports and imports, trade with France fell £2.6 billion in both respects, with Norway and Russia the only countries where the value of imports rose.

September's trade in services surplus of £2.5 billion gave a quarterly total of £7.1 billion, a rise of £0.7 billion compared to the previous three months.

And finally, Britain's balance of trade in oil resulted in a £0.5 billion deficit, compared to £0.7 billion in August.


Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Automotive
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
Health / Beauty
Hotel / Catering / Restaurants
HR / Recruitment
Insurance / Pensions
International / Overseas
IT / Internet
Legal
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Telecommunications
Transport / Logistics
Travel / Tourism / Leisure