U.K. Trade Deficit Widens in August 2012


The United Kingdom’s deficit on trade in goods and services widened to £4.2 billion in August, up from £1.7 billion in July.

The UK’s deficit on trade in goods widened to £9.8 billion in August, up from £7.3 billion in July. Exports of goods fell by £1.0 billion (4.0 per cent), from £25.7 billion in July to £24.6 billion in August. Imports of goods increased by £1.5 billion (4.5 per cent), from £33.0 billion in July to £34.5 billion in August.

The deficit on trade in goods with EU countries widened by £0.5 billion to £4.9 billion in August compared with a deficit of £4.4 billion in July. Exports decreased by less than £0.1 billion (0.5 per cent) to £12.4 billion. Imports increased by £0.4 billion (2.4 per cent) to £17.2 billion.

The deficit on trade in goods with non-EU countries widened by £2.0 billion to £5.0 billion in August compared with a deficit of £2.9 billion in July. Exports decreased by £1.0 billion (7.2 per cent) to £12.3 billion. Imports increased by £1.1 billion (6.8 per cent) to £17.3 billion.

The decrease in total exports of goods reflected lower exports of total manufactures (down £1 billion); specifically exports of semi-manufactures, which fell by £0.5 billion between July and August.

The increase in total imports of goods reflected higher imports of the following commodities: fuel (up £1 billion), specifically imports of oil which rose by £0.9 billion and total manufactures (up £0.6 billion), specifically imports of material manufactures which rose by £0.4 billion.


TradingEconomics.com, ONS
10/9/2012 10:24:28 AM