UK Trade Deficit Narrowed in March


The UK’s deficit on trade in goods and services was £2.5 billion in March, compared with the deficit of £2.8 billion in February (originally published as a deficit of £3.2 billion).

The surplus on trade in services was £4.1 billion, the same as in February.

The deficit on trade in goods was £6.6 billion, compared with the deficit of £6.8 billion in February (originally published as a deficit of £7.3 billion). Exports fell by £0.1 billion, while imports fell
by £0.3 billion.

The deficit with EU countries was £3.3 billion in March, compared with a deficit of £3.1 billion in February. Exports fell by £0.2 billion and imports were unchanged. There was a rise in exports of oil, and a fall in exports of chemicals. There was a rise in imports of cars, and a fall in imports of intermediate goods.

The deficit with non-EU countries narrowed to £3.3 billion compared with the deficit of £3.7 billion in February. Exports rose by £0.1 billion and imports fell by £0.3 billion. There was a fall in exports of chemicals, offset by small rises in exports of other products. There were rises in imports of oil, and precious stones. There were falls in imports of consumer goods other than cars, chemicals, semi-manufactured goods other than chemicals, aircraft, capital goods, and intermediate goods.

Excluding oil and erratic items, the volumes of exports and imports were both four per cent lower in March than in February.

Export prices rose by two per cent compared with February, and import prices rose by one and a half per cent.


TradingEconomics.com, UK National Statistics
5/12/2009 8:42:28 AM