Exports reach a record high
Saturday 02 December 1995
Britain's trade deficit fell by pounds 300m to pounds 1bn in September as the volume and value of exports reached a record high. But City analysts warned that the improvement in the trade balance would prove short-lived.
Although Ian Lang, President of the Board of Trade, welcomed the performance of exporters, official statisticians said the latest estimates of trends in both volume and value pointed to a continuing deterioration in the trade balance. "The October global data will probably show the improvement in the deficit more than reversed," warned Adam Cole, economist at James Capel.
The latest figures, incorporating new information about the balance of trade with the rest of the European Union, showed that rising imports from the rest of the world were responsible for the trend deterioration in the deficit.
Comparing the three months ending in September with the previous three, the underlying volume of exports - excluding oil and erratics - rose by just over 3 per cent to both the EU and the rest of the world. However, imports rose by 5 per cent from outside the EU but only 2.7 per cent from within the EU.
The trade deficit of pounds 300m with the EU in September was unchanged on August. However, it fell by pounds 500m in the third quarter compared with the second. It would have improved even more without a surge in imports of cars. This caused the deficit on cars to worsen by more than pounds 300m to pounds 1.2bn in the third quarter. The price of exports to the EU rose much more sharply than those to the rest of the world.
Olympic diver has made his modelling debut for Adidas
- 1 Thailand beach murders: Thai PM suggests 'attractive' female tourists cannot expect to be safe wearing bikinis
- 2 Scottish independence: Learn from Quebec's mistakes and beware of promises. Vote Yes.
- 3 'Necrophilia-obsessed' girl among double murder accused in three-way sex case
- 4 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 5 Revealed after 75 years of secrecy: 'Fifi' the glamorous WW2 special agent who tested British spies' resolve
Thailand beach murders: Thai PM suggests 'attractive' female tourists cannot expect to be safe wearing bikinis
Scottish independence: Final opinion polls show undecided voters could swing result either way
Isis release 'Flames of War' video warning Obama of attacks troops could face in Iraq
Jennifer Lawrence 'naked sex video' will be leaked next, threatens 4Chan celebrity photo hacker
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Portuguese academic says British are 'filthy, violent and drunk'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
iJobs Money & Business
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
£20000 - £25000 per annum + OTE £35,000 first year: SThree: The SThree group i...
£20 - 24k (Uncapped Commission - £35k Year 1 OTE): Guru Careers: We are seekin...