UK trade deficit unchanged in January

12.03.2008

Britain's trade deficit with the rest of the world was unmoved at £4.1bn in January, figures from the Office for National Statistics revealed today.

The data showed that the visible trade deficit also remained the same as December at £7.5bn, revised down from £7.6bn previously. Analysts got it right, having predicted no change.

But import prices rose 2.5%, the fastest since July 2005, while excluding oil, the number rose at its fastest in nearly 15 years, up 2.2% on the month, reflecting the weaker pound.

Total exports of goods jumped to £20bn in January from a downwardly revised £18.8bn a month earlier, while total imports rose to £27.5bn from £26.3bn last time.

Elsewhere, the deficit with EU countries closed from £3.4bn to £3.2bn.

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