Latest ONS UK trade figures, October 2015

Main points for October 2015

– UK trade shows import and export activity and is a main contributor to the overall economic growth of the UK. All data are shown on a seasonally adjusted, balance of payments basis, at current prices unless otherwise stated.

– The UK’s deficit on trade in goods and services was estimated to have been £4.1bn in October 2015, a widening of £3.1bn from September 2015. The widening is attributed to trade in goods where the deficit has widened from £8.8bn in September 2015, to £11.8bn in October 2015.

– The trade in goods widening was mainly the result of a large increase in imports of goods; up £2.3bn to £35.4bn between September 2015 and October 2015. This increase mainly reflected a rise in imports of finished manufactures of £1.1bn. Exports of goods decreased by £0.7bn to £23.5bn in October 2015.

– In the three months to October 2015, the UK’s deficit on trade in goods and services was estimated to have been £8.4bn; widening by £2.4bn from the three months to July 2015.

– Between the three months to July 2015 and the three months to October 2015, the trade in goods deficit widened by £2.5bn to £31.6bn. This widening was mainly attributed to a £1.6bn fall in exports of fuel and a £1.3bn rise in the imports of machinery and transport equipment.

– Between the three months to July 2015 and the three months to October 2015, the trade in services surplus widened by £0.2bn to £23.2bn.
Full report and graphs here