19 December 2001, 12:40 UK Oct global trade in goods deficit 2.314 bln stg; Nov non-EU 2.047 bln
LONDON (AFX) - The UK's global trade in goods balance widened to a
2.314 bln stg deficit in October from 2.253 bln stg the previous month,
National Statistics said.
The AFX News median of analysts' forecasts was for an October
global trade deficit of 2.2 bln stg.
Excluding oil and erratics, the trade deficit fell to 2.715 bln stg
in September from a 2.950 bln shortfall the previous month.
In the three months to October, the deficit on trade in goods
narrowed to 7.849 bln stg from 8.710 bln in the previous three months.
NS reported that the UK's goods trade balance with EU countries was
at a deficit of 625 mln stg in October, compared with a 497 mln deficit
the previous month.
Meanwhile, data for November showed that the UK's trade in goods
deficit with non-EU countries widened to 2.047 bln stg, compared with
October's revised shortfall of 1.689 bln.
The AFX News median was for a non-EU deficit of 2.0 bln stg.
Stripping out oil and erratic items, the non-EU trade deficit
widened over the month to 1.412 bln stg from 1.079 bln in October.
NS said the latest estimate of the trend suggests that the global
trade in goods deficit is narrowing, with trends in the value of trade
showing exports and imports both falling.
Trends in trade volumes, excluding oil and erratics, again show
exports and imports both falling.
Global trade in services showed a surplus of 911 mln stg in October
compared with a downwardly revised 348 mln stg surplus in September.
The September figure was the lowest since May 1993. The revision
was largely due to provisional adjustments made to the Insurance
account for the effects of the Sept 11 terrorist attacks.
The resultant global trade in goods and services balance for
October was a 1.403 bln stg deficit compared with a revised 1.905 bln
deficit the previous month.
NS said the underlying trend suggests that the total trade balance
deficit is widening.
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