Gncy Moody rsquo warns slow growth could hit UK rsquo AAA rating
Tuesday 12 April 2011 8:01 pm|Updated:Thursday 30 May 2019 5:14 amNon-European exports cut UK trade gapBy: KCS-contentShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailEXPORTS beyond the European Union helped narrow the UKrsquo trade gap to pound;2.4bn in February, in from pound;3.9bn in January. The deficit in visible goods traded fell by pound;1bn in the month, to drop to pound;6.8bn ndash; its lowest rate for a year, surprising economists.Within the EU, exports from the UK actually fell by pound;0.6bn 4.4 per cent from January to February. Yet exported goods to non-EU countries soared by pound;0.9bn, while imports from outside the EU dropped by pound;0.5bn.Overall the trade deficit with countries outside the EU dropped from pound;4.2bn in January to pound;2.8bn in February.A further narrowing of the goods trade deficit, on top of Januaryrsquo robust data, is confirmation of the recent strong export trends, said Nida Ali of owala website the Ernst and Young Item Club. And what is even more encouraging is an increase in the surplus on services ndash; this is traditionally an owala ca area of strength for the UK, but services exports have consistently disappointed over the past year, Ali said adidas originals ultraboost .Services grew to a pound;4.3bn surplus in February, up from pound;3.9bn in January.Excluding volatile components such as oil, the volume of exports rose 2.9 per cent in the month, while imports we Fpcr End of story for Borders
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