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March 10, 2017UK TRADE BALANCE JANUARY 2017 UK import and export trade is a main contributor to the overall economic growth of the UK.
In January 2017,
- the UK deficit in the UK goods and services balance of trade was virtually unchanged (down £0.1 billion) at £2.0 billion from December 2016 .
- the slight narrowing of the trade in goods deficit was mainly due to the increase in exports of goods (£0.4 billion) exceeding the increase in imports (£0.3 billion).
Quotes:
"The overall trade deficit remained virtually flat at £2.0 billion in January, with export and import values growing by 0.8% and 0.6% respectively".
"Trade prices continue to be heavily influenced by recent sterling movements. Goods export and import prices increased by 2.1% and 2.5% respectively in January compared with December, coinciding with sterling depreciating by 1.7% against a basket of currencies."
Source: UK Office for National Statistics, Statistical Bulletin | Short term Indicators
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