- Analytics
- News and Tools
- Market News
- UK visible trade gap narrows in January
UK visible trade gap narrows in January
The UK's trade deficit in goods narrowed unexpectedly in January, the latest figures from the Office for National Statistics showed Tuesday.
The deficit fell to GBP 8.2 billion in January from GBP 8.7 billion in December. This was forecast to increase to GBP 8.95 billion. A year ago, the trade balance recorded a shortfall of GBP 8.1 billion.
According to the statistical office, the decline in deficit was due to an unusually low figure for the balance of trade in oil, with exports up by around GBP 0.3 billion on the previous month and imports down very sharply by more than GBP 1 billion.
At the same time, ONS noted that monthly trade in oil can be volatile. The UK's trade deficit with EU countries widened during the month while trade deficit with non-EU countries narrowed.
Exports of goods decreased 3.5 percent month-on-month to GBP 24.4 billion and imports fell 4.2 percent to GBP 32.6 billion.
The deficit on trade in goods and services was GBP 2.4 billion in January, compared with a deficit of GBP 2.8 billion in December.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
