UK Trade Deficit Narrows 71% in December


UK's trade deficit shrank to its lowest since July of 2012 in December of 2013 boosted by a jump in exports of oil, chemicals and aircraft and a fall in imports of aircraft and ships.

Exports of goods and services rose 2.12 percent over the previous month and reached £ 41.55 billion. 

Exports of goods increased by 1.9 percent between December and November 2013 to £25.0 billion. Shipments of goods to the European Union increased by £0.3 billion to £12.4 billion, reflecting an increase in the export of fuels of £0.4 billion. Exports of goods to countries outside of the EU increased by £0.1 billion to £12.6 billion. 

Imports of goods and services fell 3.8 percent on a monthly basis to £ 42.58 billion. 

Imports from the EU decreased by £0.9 billion to £17.9 billion. Imports from countries outside of the EU decreased by £0.7 billion to £14.8 billion, the lowest since May of 2010. The fall is mainly attributable to the import of transport equipment; primarily aircraft and ships.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
2/7/2014 10:46:22 AM