- Prior -9.821bn. Revised to -10.5bn
- Non-EU -3.582bn vs -3.800bn exp. Prior -4.048bn. Revised to -4.060bn
- Exports 1.8% vs 3.4% prior (3m/3m 0.1% vs -0.5% prior)
- Imports -0.8% vs 5.1% prior (3m/3m -1.1% vs +1.4% prior)
A slight rise in exports was joined by lower fuel imports as North Sea supplies picked up. Silver sales to India helped the export gain. Still a chunky deficit but it’s the lowest for 7 months.
What is good news, if sustained, is the deficit with Europe fell by £400m to -6.038bn. The UK needs to see exports to Europe pick up and more importantly it’s a small sign of growth in Europe.
UK trade balance 10 12 2014
