Britain’s Trade Gap Widens
August 9, 2011 by UPI - United Press International, Inc.
LONDON, Aug. 9 (UPI) — Britain’s trade gap rose to $7.2 billion in June as exports fell by $1.9 billion and imports dropped by $1.2 billion, the government said Tuesday.
Britain’s deficit in goods trading grew to $14.2 billion in June from $13.7 billion in May. In services, the trade surplus came in at $7.1 billion, unchanged from a month earlier.
The gap in trading in goods with EU countries shrank from $5.5 billion in May to $5.1 billion June. With non-EU countries, the trading gap in goods rose from $8.2 billion in May to $9.2 billion in June.
Excluding oil trading, the volume of goods exports fell by 2.7 percent, while the volume of goods imports fell by 5.8 percent compared with May, the Office of National Statistics said.
Exports prices rose 0.6 percent month-to-month. Import prices rose slightly faster, up 0.7 percent May to June, ONS said.