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zugzwang

Uk Trade Deficit Widest In Five Months

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Another month gone and still no sign of that export-led recovery. :rolleyes:

http://www.telegraph.co.uk/finance/economics/10880806/UK-trade-deficit-widest-in-five-months.html

Britain’s trade deficit widened in April as exports fell, suggesting that the government is facing headwinds in its attempt to rebalance the economy.
Figures from the Office of National Statistics showed the UK had a deficit of £9.6bn on goods in April and a £7.1bn surplus on services.- the biggest in five months.

The figures could be a sign the economy is “still struggling” to rebalance towards exports, said Samuel Tombs of Capital Economics. Steve Blitz, chief economist at agency broker ITG said: "The widening of the UK trade gap even after adjusting for the missed oil exports underscores the Achilles heel of the UK recovery, a growing and ultimately unsustainable trade imbalance.

Exports to the European Union as a whole rose 1.3pc to £12.4bn but the deficit with the bloc widened to £5.14bn from £4.87bn in March.

The goods trade deficit with non-EU countries grew to £3.78bn in April from £3.42bn in March, against forecasts for a gap of £3.1bn. This was due mainly to falls in exports of manufactured goods and a decrease in imports of manufactured goods and fuels fell.

HMRC figures shows Britain’s non-EU exports have dropped by a third in the space of a year.

cap-economics_2933489a.jpg

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http://www.ons.gov.uk/ons/rel/uktrade/uk-trade/april-2014/stb-uk-trade--april-2014.html

Like this bit: HMRC 'lost' £700m in oil exports. Good job these figures aren't important or anything.

  • Trade in Goods data in this release are supplied by Her Majesty's Revenue and Customs (HMRC). HMRC have informed ONS that they have identified omissions in their most recent data delivery, resulting in exports of oil being underestimated by about £700 million in April 2014. Unfortunately this was identified too late to incorporate into this publication, although footnotes have been added to relevant data tables to draw attention to the impact of the data omissions. While the omissions will be addressed in the next UK Trade release, to be published on 10 July 2014, it is important to remind users that there could be other data revisions at that time that could impact on the overall picture.
  • If this £700 million is taken into account the goods and services deficit stands at £1.8 billion in April 2014 (instead of £2.5 billion) and the goods deficit was £8.9 billion (instead of £9.6 billion).
  • In April 2014 the trade in goods deficit excluding oil was £8.4 billion compared with £7.7 billion in March 2014. In April 2014, exports of goods excluding oil decreased 1.9% to £21.2 billion from £21.6 billion in March 2014, reflecting falls in chemical manufactures and material manufactures.

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Another month gone and still no sign of that export-led recovery. :rolleyes:

http://www.telegraph.co.uk/finance/economics/10880806/UK-trade-deficit-widest-in-five-months.html

You fail to understand we are importing the raw materials to produce the goods we are going to export, there's a lag in manufacturing.... :ph34r:

Edited by interestrateripoff

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Surely this doesn't matter as we can just keep selling houses to each other at ever increasing prices?

That's the economy now isn't it?

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Surely this doesn't matter as we can just keep selling houses to each other at ever increasing prices?

That's the economy now isn't it?

Yes, I thought we were doing rather well with the exportation of our housing stock. ;)

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Trade deficit widest since April 2012.

Recovereh!

Investing.com - The U.K.’s goods trade deficit widened unexpectedly in July, official data showed on Tuesday.In a report, the U.K. Office for National Statistics said the country's goods trade deficit widened to a seasonally adjusted £10.2 billion in July from a deficit of £9.41 billion in June. Economists had expected the goods trade deficit to narrow to £9.1 billion.

Seasonally adjusted, the U.K.’s deficit on trade in goods and services was estimated to have been £3.3 billion in July, compared with £2.5 billion in June.

Trade in goods with non-EU countries accounted for the majority of the increase in exports and imports in July. Exports increased by £0.5 billion and imports increased by £1.0 billion.

Exports of goods to countries within the EU increased by less than £0.1 billion, while imports increased by £0.3 billion.

In the three months to July, the trade in goods deficit widened by £2.9 billion to £28.7 billion. Exports decreased by £0.5 billion to £71.4 billion. Imports increased by £2.4 billion to £100.1 billion.

http://www.investing.com/news/economic-indicators/u.k.-goods-trade-deficit-widens-to-%C2%A310.2-billion-in-july-308658


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£25+++billion goods trade deficit every quarter, rebalancing bankrupt of england style. The liars forgot to mention that when they said rebalancing they meant stuffing money down the banker's trousers.

They have made a financial cesspit of this country.

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Yes, I thought we were doing rather well with the exportation of our housing stock. ;)

Even if you could export them, I doubt anybody would want to buy British houses. They are old, small and overpriced.

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- U.K. factory output increased in July but the nation’s trade deficit widened, a sign that economic recovery remains dependent on domestic demand.

WSJ Blog

Osborne has been going on about exports for quite some time. A few people I know would like to shift focus to start-ups and especially exports, but weighed down by high rents and insane house prices.

(Which some VI think are cheap, and expect policy to lead to a new wave of HPI, and others giving it excuses for idiots paying ridiculous sums for housing - no limit to their excuses - and young people carrying the older home owning VI and landlord class as they congratulate themselves on locked in forever HPI).

So why is this woman living in a shed in London?

Monday 8 Sep 2014

http://metro.co.uk/2014/09/08/so-why-is-this-woman-living-in-a-shed-in-london-4861213/

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Another blow-out month for Red George, the great rebalancer.

Nov 7 (Reuters) - Britain's goods trade deficit widened by more than expected in September, hit by a jump in oil imports and by weak export growth to the European Union, official data showed on Friday.

The Office for National Statistics said the deficit grew to 9.821 billion pounds from 8.950 billion pounds in August, when a plunge in big-ticket imports such as aircraft helped narrow the shortfall to its smallest level since March.

Economists had forecast a gap of 9.4 billion pounds in September

Exports in the month rose by 4.2 percent compared with August but imports increased by a faster 5.8 percent.

The data meant that in the third quarter as a whole, Britain's deficit in its trade in goods grew to 29.049 billion pounds, up from 28.107 billion pounds in the second quarter.

Oil imports jumped 27.6 percent in September from August, the ONS said.

Including Britain's surplus in trade in services, the overall trade deficit also widened in September to 2.838 billion pounds from 1.768 billion pounds in August. That took the overall shortfall for the third quarter to 7.549 billion pounds, compared with 6.461 billion pounds in the April-June period, suggesting the trade balance would be a drag on economic growth in the July-September period, the ONS said.

http://uk.reuters.com/article/2014/11/07/uk-britain-trade-idUKKBN0IR0W320141107

Edited by zugzwang

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The Telegraph mentioned earlier this year that we had been managing to square our overseas balance sheet by the magic financial alchemy....we made great investments abroad and this made up for our sucking in imports. Even so it was beginning to unravel, so I guess we will have to start selling three centuries of family silver to keep Poundland stocked.

http://www.telegraph.co.uk/finance/economics/10737749/Selling-UK-Plc-is-the-only-way-we-can-avoid-a-full-blown-crisis.html

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The Telegraph mentioned earlier this year that we had been managing to square our overseas balance sheet by the magic financial alchemy....we made great investments abroad and this made up for our sucking in imports. Even so it was beginning to unravel, so I guess we will have to start selling three centuries of family silver to keep Poundland stocked.

http://www.telegraph.co.uk/finance/economics/10737749/Selling-UK-Plc-is-the-only-way-we-can-avoid-a-full-blown-crisis.html

Funny, catching the 1987 election coverage replays on BBC parliament one day, and Ken Livingstone sounding very Farage-ish going on about selling our capital to foreign interests. It's odd, as Reagan was always blabbing on about the 'double deficits' and its his and thatchers courting of FDI as something positive that meant they were never addressed.

The future is now set. The Brits will be tenants in their own land. The Chinese and Arabs their masters.

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