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Trade deficit declines to £4.6bn
The UK's trade deficit declined slightly in August after reaching a five-year high in July, according to the Office for National Statistics.
The deficit in goods and services was £4.6bn last month, narrowing from £5bn the month before and the deficit on trade in goods declined from £8.7bn in July £8.2bn.
Disappointingly, total exports fell by 2.1% in August after dipping just 1% in July.
"These figures are mixed and in line with expectations. It is disappointing that exports fell slightly, but imports fell even more, and overall the result was an improvement in the net trade position," said David Kern, chief economist at the British Chambers of Commerce.
Post Date: October 12th, 2010
The deficit in goods and services was £4.6bn last month, narrowing from £5bn the month before and the deficit on trade in goods declined from £8.7bn in July £8.2bn.
Disappointingly, total exports fell by 2.1% in August after dipping just 1% in July.
"These figures are mixed and in line with expectations. It is disappointing that exports fell slightly, but imports fell even more, and overall the result was an improvement in the net trade position," said David Kern, chief economist at the British Chambers of Commerce.
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Post Date: October 12th, 2010
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