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20/08/2001
UK trade deficit widens
The UK's trade deficit reached a monthly record of £2.3bn in June, pushing the second quarter deficit to a record £6.2bn, up from £5bn in the previous quarter.
The deficit in global trade in goods meanwhile widened to £3.2bn in June from £2.5bn in May.
The Office of National Statistics said that the latest trend suggested that the UK trade deficit was widening.
For goods, the trade deficit with the EU remained pretty much the same from May, at £0.1bn, but the gap with non-EU countries increased to £3.1bn in June.
Imports from non-EU countries rose seven per cent, compared to a two per cent fall in goods imported from the EU. Total exports of goods fell by 1.5 per cent to £16.1bn, while total imports rose 2.5 per cent to £19.4bn.
Although the £3.2bn trade deficit for goods in June was the highest monthly figure recorded, it still doesn’t represent as big a slice of gross domestic product (GDP) as it did in the 1980s.
The previous monthly record for the trade deficit in goods was £2.9bn in December 2000. (MB)
The deficit in global trade in goods meanwhile widened to £3.2bn in June from £2.5bn in May.
The Office of National Statistics said that the latest trend suggested that the UK trade deficit was widening.
For goods, the trade deficit with the EU remained pretty much the same from May, at £0.1bn, but the gap with non-EU countries increased to £3.1bn in June.
Imports from non-EU countries rose seven per cent, compared to a two per cent fall in goods imported from the EU. Total exports of goods fell by 1.5 per cent to £16.1bn, while total imports rose 2.5 per cent to £19.4bn.
Although the £3.2bn trade deficit for goods in June was the highest monthly figure recorded, it still doesn’t represent as big a slice of gross domestic product (GDP) as it did in the 1980s.
The previous monthly record for the trade deficit in goods was £2.9bn in December 2000. (MB)
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Illegal goods trade reaches nearly £1bn in UK
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Irish Trade minister welcomes Ireland's strong trade performance
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Irish Trade minister welcomes Ireland's strong trade performance
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15 August 2001
Euro tops 90 cents as it forges on to a new high
The euro was heading towards a new mid-year high as it pushed through the 90 cent barrier against the US dollar on Wednesday morning. The dollar slid against the euro and the yen as currency markets continued to respond to downbeat assessments of the health of the US economy made by the International Monetary Fund (IMF).
Euro tops 90 cents as it forges on to a new high
The euro was heading towards a new mid-year high as it pushed through the 90 cent barrier against the US dollar on Wednesday morning. The dollar slid against the euro and the yen as currency markets continued to respond to downbeat assessments of the health of the US economy made by the International Monetary Fund (IMF).
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