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Economy in Brief

UK Exports and Imports Accelerate Again Deficit Slips
by Robert Brusca September 11, 2007

UK trade deficit widens in July as worsening trend stays in place.

Trade flows in capital goods and autos are strengthening. But imports are generally holding their lead forcing the deficit deeper into red ink. Export and import flows generally have accelerated in the last 3 months and 6 months compared to earlier periods in terms of the sequential growth rates in the table below. The UK trade deficit has sunk to -7 billion sterling in July from -6.5 billions sterling in June. UK trade flows are just starting to get back into a normal swing after a huge surge in early 2006.

UK Trade Trends for Goods
  m/m% % SAAR
  Jul-07 Jun-07 3M 6M 12M
Balance* -££ 7.07 -££ 6.54 -££ 6.76 -££ 6.93 -££ 6.78
Exports          
All Exports 2.6% 3.1% 48.6% 12.1% 1.4%
Capital Goods 7.3% 4.8% 89.7% 13.0% -17.8%
Road Vehicles 2.7% 4.6% 28.9% 11.8% 14.7%
Basic Materials -5.1% -1.0% -2.5% 34.8% 13.6%
Food Feed Beverages & Tobacco 1.2% -4.5% 24.9% 2.7% 8.8%
Imports          
All Improts 4.0% 1.6% 31.8% 14.2% 3.6%
Capital Goods 1.6% 3.2% 18.2% 2.2% -17.5%
Road Vehicles 1.3% 2.2% 51.0% 9.2% 20.6%
Basic Materials 7.1% 2.7% 62.9% 76.7% 46.1%
Food Feed Beverages & Tobacco 4.7% -2.2% 7.5% 6.2% 10.0%
*Bil Sterling; monthly or period average
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