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UK trade deficit at record high
worldtraveller
Posts: 14,013 Forumite
Britain's goods trade deficit widened in September to its highest since the series began in 1998 after a record jump in imports countered a tepid rise in exports, data showed on Wednesday.
Economists said the numbers indicated the crisis in the euro zone had dampened Britain's exports, and cautioned against interpreting the surge in imports as a sign of recovering domestic demand.
The Office for National Statistics said the goods trade deficit widened to some £9.8 billion in September from an upwardly revised £8.6 billion in August. Economists had forecast a much smaller shortfall of £8.0 billion.
Reuters
Economists said the numbers indicated the crisis in the euro zone had dampened Britain's exports, and cautioned against interpreting the surge in imports as a sign of recovering domestic demand.
The Office for National Statistics said the goods trade deficit widened to some £9.8 billion in September from an upwardly revised £8.6 billion in August. Economists had forecast a much smaller shortfall of £8.0 billion.
Reuters
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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Comments
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'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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Although not great a slight up on exports and a large up on imports should mean growth.
Not strong growth, but a least heading in the right direction (EG not falling)0 -
Although not great a slight up on exports and a large up on imports should mean growth.
Not strong growth, but a least heading in the right direction (EG not falling)
I think we probably need a breakdown of what was imported e.g. capital goods or Iphones
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
I think we probably need a breakdown of what was imported e.g. capital goods or Iphones
Apparantly imports were fueled by oil, chemicals and silver.
I'm assuming the large chemical imports must be due to cocaine imports as people have a line or three with their champagne as they celebrate these boom times.0 -
I did wonder if more imports meant people had more to spend, and manufacturing needed more materials. Maybe that's me being over-optimistic though!“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0
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saying it's the "highest ever" because the absolute number is the highest ever is a bit like saying "2011, that's a higher number than last year, isn't it".0
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I think we probably need a breakdown of what was imported e.g. capital goods or Iphones
http://www.ons.gov.uk/ons/rel/uktrade/uk-trade/september-2011/trade-in-goods-mrets.html
Download links are on the right. It's a monster of a file! It's too big to open entirely in Excel.
The biggest deficits are in food, clothing, manufactured good, fuel and capital goods.
The UK has a significant surplus in 'Toilet Preparations' whatever they are. Also cars, oils and fats, pharma, chemicals & finished goods (the UK has since at least the C19th been good at importing stuff, adding value and exporting it).0 -
Toilet preparations may have a different connotation for those in Oz.
This may require a shovel and a lot of effort.
In the UK toilet preparations are things you send to relatives at Christmas so that they get the impression from you that they stink /require more make-up ... .
J_B.0
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