UK Trade Defici Narrows in August


The UK’s deficit on seasonally adjusted trade in goods and services fell to £1.9 billion in August from £2.3 billion in July.

The deficit on seasonally adjusted trade in goods fell to £7.8 billion in August. The surplus on seasonally adjusted trade in services increased to £5.9 billion in August.

The volume of seasonally adjusted exports was 1.3 per cent higher and imports was 0.3 per cent higher than July.

Export prices of goods fell by 1.5 per cent and import prices fell by 0.5 per cent, compared with July.

Total exports of goods rose by £ 0.2 billion (0.6 per cent) to £25.5 billion, and total imports of goods fell by £0.2 billion (0.7 per cent) to £33.3 billion. The rise in exports of goods was driven by exports of fuels (up £0.2 billion), followed by exports of intermediate goods (up £0.2 billion) and exports of food, drink and tobacco (up £0.2 billion), offset by exports of cars (down £0.3 billion). The fall in imports of goods was driven by imports of oil (down £0.3 billion), followed by imports of chemicals (down £0.2 billion) and imports of capital goods (down £0.2 billion), offset by imports of aircraft (up £0.2 billion) and imports of intermediate goods (up £0.1 billion).


TradingEconomics.com, UK Office for National Statistics
10/13/2011 2:36:01 PM