–UK Feb Global Goods Trade Deficit Stg6.776bn vs Stg7.789bn Jan
–UK Feb Non-EU Goods Trade Deficit Stg2.849bn vs Stg4.2bn Jan
–UK Feb Total Trade Deficit Stg2.443bn vs Stg3.858bn Jan
–UK Feb Global Trade Gap Ex-oil/erratics Stg6.643b vs Stg7.895bn Jan
–UK Feb EU-27 Trade Deficit Stg3.927bn vs Stg3.579bn Jan
LONDON (MNI) – The UK’s goods trade deficit narrowed in February to
its lowest level in a year, as exports to non-EU countries rose sharply,
figures released by National Statistics showed Tuesday.
The global goods deficit narrowed to Stg6.776 billion in February
from Stg7.789 billion in January, below the median forecast for a
shortfall of Stg8.1 billion.
Today’s positive trade figures may herald the long awaited and
hoped for boost to the UK’s export sector from the decline in the value
of Sterling in recent years.
The value of exports 1.2% on the month while imports fell 2.2%.
Exports rose in spite of an 8.7% monthly decline in exports of oil.
While the shortfall with EU countries widened to Stg3.927 billion
from Stg3.579 billion, the deficit with non-EU countries narrowed
sharply.
Exports to non-EU countries leapt 7.6% on the month, while imports
fell 3%, causing the non-EU trade deficit to narrow to Stg2.849 billion,
the narrowest since October 2005.
The total trade deficit, which includes services, narrowed to
Stg2.443 billion from Stg3.858 billion, the lowest since February 2010.
–London newsroom: 44 20 7862 7491; email: drobinson@marketnews.com
[TOPICS: M$BDS$,M$B$$$,MT$$$$,MABDS$]
