Member Article

Trade deficit falls at 2012 close

The UK’s trade deficit fell from £3.6bn to £3.2bn between November and December 2012.

Announced this morning, the Office for National Statistics say “erratic changes” in the deficit occurred over the last 12 months, however the level remained relatively flat.

A deficit of £8.9bn on goods was partly offset by a surplus of services, estimated to be £5.7bn.

Over the period, exports to the EU fell by £0.6bn to £12.2bn, and imports from the EU fell by £0.6bn to £16.9bn.

The deficit on trade in goods with non-EU countries decreased by £0.4bn to £4.2bn, as exports increased by 11.7% and imports rose 6%.

Between 2002 and 2012 the value of UK exports grew by 60% and the value of imports rose by 74%.

This was posted in Bdaily's Members' News section by Tom Keighley .