U.K. Trade Deficit Narrows in September 2012


The United Kingdom’s deficit on trade in goods and services narrowed to £2.7 billion in September, up from £4.2 billion in August.

The UK’s deficit on seasonally adjusted trade in goods and services was £2.7 billion in September.  The deficit on trade in goods was £8.4 billion. The surplus on trade in services was estimated at £5.7 billion.

There was a deficit of £8.4 billion on goods, partly offset by an estimated surplus of £5.7 billion on services. In quarter three 2012, trade in goods and services was estimated to have been in deficit by £8.5 billion compared with a deficit of £10.1 billion in the preceding quarter.

Excluding oil and erratic items, the volume of exports of goods was 4.1 per cent higher in quarter three 2012 compared with the preceding three months. The volume of imports fell 0.3 per cent over the same period.

UK’s non-EU exports have decreased by £0.2 billion (1.7 per cent) compared to August 2012, to £11.7 billion. Compared to September 2011, exports have increased by £0.4 billion (3.5 per cent). Non-EU imports have decreased by £0.4 billion (2.4 per cent) compared to August 2012, to £16.6 billion. Compared to September 2011, imports have decreased by £0.5 billion (3.0 per cent).

The UK remains a net importer (imports are greater than exports) on non-EU trade. The size of the difference between imports and exports has decreased by £0.2 billion (4.3 per cent) compared to August 2012, and has decreased from September 2011 by £0.9 billion (15.8 per cent).


TradingEconomics.com, ONS
11/9/2012 10:06:10 AM