Details from the January 2016 UK trade balance data report 11 March 2016

  • Prior -9.92bn. Revised to -10.45bn
  • Non-EU -2.20bn vs -2.90bn exp. Prior -2.36bn. Revised to -3.02bn
  • Goods and services bal -3.46bn vs -3.00bn exp. Prior -2.71bn. Revised to -3.70bn
  • Exports -0.5% vs -1.1% prior m/m
  • Exports 3m/3m -2.1% vs 0.3% prior. Revised to -0.3%
  • Imports +3.8% vs -3.0% prior m/m. Revised to -3.3%
  • Import 3m/3m -1.1% vs 1.2% prior. Revised to 0.6%

On the money headline making it worse than last month's 9.92bn deficit, but that was also revised worse, which makes today's number better. See how that all works? ;-)

Overall it could be spun that the deficits are better but only due to the worse revisions.

UK trade balance - Like blood running down a wall