uk trade gap

UK Trade Gap Narrows

UK Trade Gap Narrows

Figures from the Office for National Statistics show a surprise fall in the UK’s trade deficit, dropping to an 18-month low in December 2008. The total UK deficit on trade in goods & services combined was down from £4.0 billion in November to £3.6 billion in December. Splitting these two main areas up, there was a surplus on trade in services in December; down from a surplus of £4.1 billion (in November) to £3.8 billion. The deficit on trade in goods was down from £8.1 billion (Nov) to £7.4 billion (Dec) Whilst the figures seem encouraging for just one month the positive stems from a "weakness in imports rather than a strength in exports." according to a comment on the BBC with Howard Archer from Global Insight, the world’s larg... »