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09/12/2004
UK trade deficit gap widens by 0.9bn
The UK’s deficit on trade in goods and services is estimated to have widened by around 0.9 billion in October up from a deficit of £2.9 billion in September to £3.8 billion in October.
According to the latest government figures, in the three months ending October the deficit on trade in goods and services was largely unchanged from the previous three months at £10.4 billion. But the latest figures have heightened concern that the UK trade deficit has increased in recent months.
In October, the UK's deficit on trade in goods was provisionally estimated at £5.3 billion compared with a deficit of £4.4 billion in September. The deficit with EU countries in October was £2.4 billion compared with £2.1 billion in September. The deficit with non-EU countries in October was £2.9 billion compared with £2.4 billion in September.
In October total exports of goods fell 2% to £16.2 billion while total imports of goods rose 2.5% to a record £21.5 billion. Exports to EU countries rose 2.5% while exports to non-EU countries fell 7%. Imports from EU countries rose 4.5% while imports from non-EU countries were little changed.
In the three months ending October the deficit on trade in goods widened by £0.1 billion to £14.9 billion.
The deficit with EU countries narrowed by £0.4 billion to £6.7 billion and the deficit with non-EU countries widened by £0.6 billion to reach £8.3 billion.
The latest estimate of the trend suggests that the whole world goods deficit is widening - the value of trade indicated that both exports and imports had risen in recent months.
In the three months ending October exports rose 1% while imports rose 2% compared with the previous three months.
(SP/MB)
According to the latest government figures, in the three months ending October the deficit on trade in goods and services was largely unchanged from the previous three months at £10.4 billion. But the latest figures have heightened concern that the UK trade deficit has increased in recent months.
In October, the UK's deficit on trade in goods was provisionally estimated at £5.3 billion compared with a deficit of £4.4 billion in September. The deficit with EU countries in October was £2.4 billion compared with £2.1 billion in September. The deficit with non-EU countries in October was £2.9 billion compared with £2.4 billion in September.
In October total exports of goods fell 2% to £16.2 billion while total imports of goods rose 2.5% to a record £21.5 billion. Exports to EU countries rose 2.5% while exports to non-EU countries fell 7%. Imports from EU countries rose 4.5% while imports from non-EU countries were little changed.
In the three months ending October the deficit on trade in goods widened by £0.1 billion to £14.9 billion.
The deficit with EU countries narrowed by £0.4 billion to £6.7 billion and the deficit with non-EU countries widened by £0.6 billion to reach £8.3 billion.
The latest estimate of the trend suggests that the whole world goods deficit is widening - the value of trade indicated that both exports and imports had risen in recent months.
In the three months ending October exports rose 1% while imports rose 2% compared with the previous three months.
(SP/MB)
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