UK trade deficit gap widens

Graham_Devon

The UK's goods trade deficit with the rest of the world unexpectedly widened to its biggest since August 2008 in January.
Exports saw their sharpest drop in more than three years, according to the Office for National Statistics (ONS).
The UK's trade gap in physical goods widened to £7.99bn ($12bn), well above the £7bn forecast by economists.

I have absolutely no idea what this means.

However, it's the biggest story on BBC business at the moment so it's gotta be either good or bad.

I'm guessing bad? As the lower value of the pound was supposed to be doing wonders for exports?

No idea on all this deficit nonsense though.

Thrugelmir

Graham_Devon wrote: »

I have absolutely no idea what this means.

However, it's the biggest story on BBC business at the moment so it's gotta be either good or bad.

I'm guessing bad? As the lower value of the pound was supposed to be doing wonders for exports?

No idea on all this deficit nonsense though.

We need to buy British products , and services from British Companies ( that old chesnut again).

We've yet to see the effects of the falling pound. As prices are fixed some way ahead. Importers will have hedged their margins to negate currency risk.

Exports reflect the poor state of the EU economy.

aelitaman

We are self suffcient in Salad vegetables from now on so that should help. The Spanish will not be happy.

purch

Graham_Devon wrote: »

I have absolutely no idea what this means.

Yes we know

wymondham

Thrugelmir wrote: »

We need to buy British products , and services from British Companies...

ha ... yep, and there is the problem....

hello...hello.... hello.... anyone there??

1984ReturnsForReal_2

OOOOOoooh

Ever get the feeling you have read something before?


We're FU****.......

joolsybools

I loved the beebs totally unbiased reporting of it - 'unexpected' my eye!

beaujolais-nouveau

Graham_Devon wrote: »

I'm guessing bad? As the lower value of the pound was supposed to be doing wonders for exports?

But we in the UK don't any more manufacture things that could be exported. Don't know why this trade deficit has come as such a surprise to the powers that be.

Really2

beaujolais-nouveau wrote: »

But we in the UK don't any more manufacture things that could be exported.

So we just import £8bn worth of goods and that's it. Not 1p in goods leaves these shores.

Kohoutek

James Dyson has made some suggestions, supported by the directors of Rolls Royce, GlaxoSmithKline and Imperial College London, and the Conservative Party:

Cultural change to develop high esteem for science and engineering, including a major national prize scheme for engineering and commitments to ‘grands projets’ such as high speed rail and nuclear power to demonstrate a Conservative Government’s ambitions for the country.

Changes at university level to encourage more young people to choose science and engineering degrees, including: industry scholarships for engineers, where the costs of bursaries to students are shared between industry and government; greater freedom for universities, for example to develop shorter courses where appropriate, or more vocational degrees.

Changes in the way we exploit new knowledge, so that the UK becomes world-class in taking the best new ideas out of universities and onto the market. Proposals include more focused funding for knowledge transfer in universities and new ways of promoting collaboration through public-private research institutes.
Changes to improve financing for high tech start ups, by increasing the generosity of the Enterprise Investment Scheme (EIS) relief for angel investors that support hi tech companies, and a government guaranteed business loan scheme to encourage more lending by banks to innovative businesses.

Changes to support high tech companies, by refocusing R&D tax credits on high tech companies, small businesses and new start-ups, and delivering on ambitions to deliver 25% of procurement and research contracts through small and medium sized enterprises (SMEs).

Graham_Devon

Oi, really....are you a scorpio?

If not what are you? Need to find out why you are like you are