Printer Friendly

RECORD HIGH IN EU TRADE GAP.

Britain's trade gap with the European Union hit a record high in the first three months of this year.

The UK bought PS23.9billion more goods from the rest of Europe than it sold to those countries, figures from the Office for National Statistics (ONS) confirmed. Exports rose by PS500million to PS33.6bn but that was more than offset by an increase of PS1.3bn in imports, which rose to PS56.7bn.

The UK's trade gap with others parts of the world also widened.

Exports of goods to non-EU countries fell by PS41million between January and March, while imports increased by PS700m.

The overall trade gap - which was described by one expert as "truly horrible" - was blamed on the weakening global economy denting demand for British-made goods overseas.

COPYRIGHT 2016 MGN LTD
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Business; Opinion, Columns
Publication:The Mirror (London, England)
Geographic Code:4EUUK
Date:May 11, 2016
Words:128
Previous Article:MPs' STAFF RELATIVELY BETTER OFF; Family members get higher paid roles.
Next Article:Energy plea sparks fears; Grid alert despite mini heatwave; CITY DESK.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters