UK Trade Deficit Narrows in January


The UK’s deficit on trade in goods and services was £3.0 billion in January, compared with a deficit of £5.5 billion in December, (originally published as a deficit of £4.8 billion).

Total exports rose by £1.3 billion (5.4 per cent) to £25.1 billion, but imports fell by £1.3 billion (4.0 per cent) to £32.2 billion.

The deficit on trade in goods with EU countries narrowed to £2.9 billion in January, compared with a deficit of £3.9 billion in December. Exports rose by £0.7 billion but imports fell by £0.3 billion.

The deficit on trade in goods with non-EU countries was £4.2 billion in January, compared with a deficit of £5.8 billion in December. Exports rose by £0.6 billion but imports fell by £1.0 billion.

Excluding oil and erratic items, the volume of goods exports rose by 6.1 per cent and the volume of goods imports rose by 1.9 per cent, compared with December.

Export prices of goods rose by 1.0 per cent and import prices of goods rose by 0.5 per cent, compared with December.


TradingEconomics.com, UK Office for National Statistics
3/9/2011 3:12:43 PM