Surplus In Services But Trade Deficit Increases

The latest UK trade figures from the ONS show that in March 2011 there was a deficit on the value of trade in goods and services of £3bn compared with a £2.7bn deficit in February. Trade in goods showed a deficit of £7.7bn compared with £7bn in February. The surplus on trade in services was given as £4.7bn in March up from £4.3bn in February. The volume of exports in March was 3.4% down and imports 0.4% down on February. The price of exports rose by 1.1% and imports by 1.8% compared with February. Exports of services went up by £0.2bn to £13.8bn in March 2011 compared with February but imports fell by £0.2bn to £9.2bn. Over the year to March the trade surplus in services increased by £0.8bn to £12.9bn compared with £12.1bn in the previous quarter (Q4 2010). Total exports rose to £41bn but imports fell to £28.1bn.