Thursday, November 12, 2009

UK trade deficit up in September

According to the Office for National Statistics, the UK’s seasonally adjusted deficit on trade in goods and services was £3.5 billion in September, compared with the deficit of £2.2 billion in August.

In the third quarter of 2009, the deficit was £8.4 billion, compared with a deficit of £8.6 billion in the second quarter of 2009.

Goods:
The seasonally adjusted deficit on trade in goods was £7.2 billion in September, compared with
the deficit of £6.1 billion in August. This is higher than analysts expected. Imports of cars was 30% up due to Britain's scrappage scheme.

Services:
The seasonally adjusted surplus on trade in services was £3.7 billion in September, compared
with the surplus of £3.9 billion in August.

Balance:

Excluding oil and erratic items, the seasonally adjusted volume of exports was 0.2 per cent
lower but the volume of imports was 4.1 per cent higher in September, compared with August.

Export and import prices of goods both rose by 1.1 per cent, compared with August.


Value of total trade in goods (seasonally adjusted)

In September, the UK’s deficit on trade in goods widened by £1.1 billion to £7.2 billion, compared
with the deficit of £6.1 billion in August.

Total exports rose by £0.7 billion (3.9 per cent) to £19.4 billion, and total imports rose by £1.9 billion (7.5 per cent) to £26.6 billion.

In the third quarter of 2009, the deficit on trade in goods narrowed by £0.1 billion to £19.8 billion, compared with the deficit of £19.9 billion in the second quarter of 2009.

Total exports rose by £2.0 billion (3.6 per cent) to £56.9 billion, and total imports rose by £1.9 billion (2.5 per cent) to £76.7 billion.

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Nick

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