UK trade-in-goods deficit narrows in July as non-EU export increases: data
September 12, 2012, 11:51 am TWN
LONDON -- Britain's trade-in-goods deficit narrowed in July to the smallest amount for 17 months as exports to non-EU nations reached a record high level, official data showed on Tuesday.
The deficit shrank to 7.1 billion pounds (US$11.4 billion, 8.9 billion euros) in July from 10.1 billion pounds in June, the Office for National Statistics (ONS) said.
Market expectations had been for the trade deficit to fall to 8.9 billion pounds in July, according to analysts polled by Dow Jones Newswires.
Exports to non-EU countries increased 11 percent to 13.2 billion pounds in July — the highest amount since records began in 1998.