Britain's official trade deficit improves in September

9th November 2010, Comments 0 comments

Britain's trade-in-goods deficit narrowed in September from the previous month as exports rose more than imports, official data showed on Tuesday.

The deficit stood at 8.2 billion pounds (9.5 billion euros, 13.2 billion dollars) in September, compared with a deficit of 8.5 billion pounds in August, the Office for National Statistics (ONS) said in a statement.

August's deficit had originally been put at 8.2 billion pounds after a record high level of 8.7 billion pounds in July.

Exports rose by 0.5 billion pounds in September and imports climbed by 0.2 billion pounds, the ONS added.

"The UK's export performance so far in 2010 has been somewhat lacklustre and disappointing, given the past sharp depreciation of the pound and improved global growth and trade," noted Howard Archer, chief European economist at the IHS Global Insight consultancy.

"Furthermore, there is a serious risk that UK exports will be hit increasingly over the coming months by slower global growth."

© 2010 AFP

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