More NewsONS Releases UK Trade Figures for December 2011

ONS Releases UK Trade Figures for December 2011

The UK’s deficit on seasonally adjusted trade in goods and services was £1.1bn in December 2011, compared with the deficit of £2.8bn in November, according to recent figures released by the Office for National Statistics (ONS). This is the smallest deficit since April 2003, when the deficit in trade in goods and services was £0.9bn.

The deficit on seasonally adjusted trade in goods was £7.1bn in December, compared with the deficit of £8.9bn in November. The surplus on seasonally adjusted trade in services was estimated at £6.0bn in December compared with the surplus of £6.1bn in November.

Excluding oil and erratic items, the seasonally adjusted volume of exports was 0.4% lower, and the volume of imports was 3.6% lower in December, compared with November. Export prices of goods fell by 0.9% and import prices of goods fell by 1.3%, compared with November.

Kah Chye Tan, head of trade and working capital, Barclays Corporate, said: “The UK is more mobilised than at any time in recent memory around growing its share of international trade and this, combined with a major fall in imports, has resulted in the smallest deficit reported in eight years. However, while British exporters do appear to be gaining more traction in the developing world, UK companies are often outpaced and outgunned by competitors from other developed nations through the direct, contract-winning support of export-focused governments. This will only intensify as developing economies mature and the malaise in Europe drags on, steadily increasing the reliance of all markets on trade.”

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

3m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

4m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi