UK's seasonally adjusted trade deficit estimated at £3.3B in August, versus July deficit of £3.4B, as exports rise 1.1% to £25.1B, imports fall 0.1% to £34.7B: Office for National Statistics

Allison Oesterle

LONDON , October 9, 2013 (press release) – The deficit of trade in goods and services for August 2013 was £3.3 billion compared with a deficit of £3.4 billion in the previous month.

The deficit on trade in goods was £9.6 billion in August 2013. The trade position reflects exports minus imports. Exports of goods increased by 1.1% on the month to £25.1 billion for August 2013. Imports for the same period fell 0.1% to £34.7 billion.

Exports of erratics which are defined as ships, aircraft, precious stones and silver increased by 10.0% in August 2013. Trade in oil can also be volatile, and this month imports of oil increased by 3.2%. Exports of goods excluding oil and erratics increased by 0.6% to £20.3 billion and imports fell by 0.6% to £28.6 billion.

In August 2013, exports of goods to the European Union (EU) decreased by £0.4 billion to £12.8 billion. Imports from the EU decreased by £0.3 billion to £18.0 billion. As of 1 July 2013, Croatia joined the EU. In August 2013, exports of goods to countries outside of the EU increased by £0.7 billion to £12.3 billion. Imports increased by £0.2 billion to £16.7 billion.

Source: Office for National Statistics

Figure 1: Balance of UK Trade

1. These National Statistics are produced to high professional standards and released according to the arrangements approved by the UK Statistics Authority.

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