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April 07, 2017UK TRADE BALANCE FEBRUARY 2017 UK import and export trade is a main contributor to the overall economic growth of the UK.
In February 2017,
- the UK deficit in the UK goods and services balance of trade was increased £0.7 billion to £3.7 billion from January 2017.
- the increase of the trade in goods deficit was mainly due to the decrease in exports of goods (-£0.4 billion) plus the increase in imports (+£0.3 billion).
Quotes:
"Trade prices continue to be influenced by recent sterling movements, with goods export and import prices falling...., coinciding with increase in volumes."
"Between January 2017 and February 2017, export prices decreased by 0.5% and import prices decreased by 0.9%, with the value of sterling increasing by 0.8%."
"The total trade deficit (goods and services) widened by £0.7 billion in February to £3.7 billion, reflecting both a 0.7% fall in export values and a 0.6% rise in import values."
Source: UK Office for National Statistics, Statistical Bulletin | Short term Indicators
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