UK trade gap widens as oil swings to deficit

Friday, October 30, 2009

The goods trade gap rose to £6.5bn from £6.17bn in May, with imports rising by 2.2pc and exports to non-EU countries falling by 2.6pc, the Office of National Statistics said. Economists had forecast a deficit of £6.2bn.

A large portion of the increase in the trade deficit was attributable to a widening of the oil deficit as production fell during summer maintenance work. The oil balance recorded a deficit of £315m after a surplus of £100m in May.


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