Taken from ThisIsMoney.co.uk
Some more facts about our trade deficit with the EU:
- UK Trade shows the extent of import and export activity and is a key contributor to the overall economic growth of the UK.
- Seasonally adjusted, the UK’s deficit on trade in goods and services was estimated to have been £3.3 billion in September, unchanged when compared with August.
- There was a deficit of £9.8 billion on goods, partly offset by an estimated surplus of £6.5 billion on services.
- In September 2013, exports of goods to countries within the EU decreased by £0.3 billion to £12.6 billion. Over the same period imports of goods from the EU increased by £0.4 billion to £18.6 billion (half of this rise is attributed to cars). This means that the overall trade in goods balance with the EU reached a record deficit of £6.0 billion.
- The deficit on trade in goods increased by £3.8 billion to £29.1 billion in Q3 2013 from £25.3 billion in Q2 2013. Exports of goods in Q3 2013 decreased by 3.5% to £75.7 billion and were 0.1% lower than in the same quarter of 2012. Imports of goods increased by 1.0% in Q3 2013 to stand at £104.8 billion and were 2.5% higher than in the same quarter of 2012.