UK trade deficit widened to £7.1 billion in October
10 Dec 2009
The UK's trade deficit on its imports and exports with the rest of the world widened unexpectedly to £7.1 billion in October, the biggest deficit in nine months, as imports rose more sharply than exports, official figures revealed yesterday.
The UK's deficit on trade in goods and services was £3.2 billion in October, compared with a revised deficit of £3.1 billion in September, according to data from the Office for National Statistics.
The deficit on trade in goods was £7.1 billion in October, compared with a revised deficit of £6.9 billion in September. Exports rose by £0.9 billion and imports rose by £1.1 billion.
The deficit with EU countries widened to £3.6 billion in October, compared with a deficit of £3.2 billion in September. Exports rose by £0.4 billion, and imports rose by £0.8 billion. There was a rise in exports of oil, but a fall in exports of chemicals.
The deficit with non-EU countries narrowed to £3.5 billion in October, compared with the deficit of £3.8 billion in September. Exports rose by £0.5 billion, and imports rose by £0.3 billion. There was a fall in imports of oil.
Excluding oil and erratic items, the volume of exports was 3.8 per cent higher, and the volume of imports was 4.3 per cent higher in October, compared with September.
