Trade Deficit In Goods Now £27.4bn

The deficit on UK trade in goods widened by £0.9bn to £27.4bn in Q2 2014 compared with a deficit of £26.5bn in Q1 2014. There was a change in value of -£0.5bn or 0.7% in total exports to £71.3bn and a change of -£0.4bn or 0.4% to £98.7bn in total imports in Q2 2014.

At the level of the change in value by industry, exports in agriculture, forestry and fishing products fell by £45m and imports fell by £9m. Information and communications services exports increased by £25m and imports also increased by £2m. In professional, scientific and technical services exports fell by £3m and imports fell by £1m. Arts, entertainment and recreation imports increased by £91m and imports fell by £198m.

Creative Businesses in the UK

The number of businesses in the creative industries in the UK grew from 125,300 in 2007 to 157,400 in 2008. The sub-sector with the largest number of new businesses was the software, computer games and electronic publishing category which increased by 18,200 additional businesses from 56,800 in 2007 to 75,000 in 2008. Advertising, music and the visual and performing arts also had significant increases in numbers of businesses.

The increase in the number of creative businesses did not bring an similar increase in the number of people employed in the creative industries. In fact there was a significant fall in their number. The software, computer games and electronic publishing category increased their numbers by 40,700 to 681,600. The largest percentage increase was in architecture at 8%, from 120,700 to 130,100, a difference of 9,400. There were also increases in the numbers of people employed in the advertising (1%), art and antiques (6%), music and the visual and performing arts (4%) categories but these were offset by decreases in crafts (-7%), design and designer fashion (-18%), video, film and photography (-3%), publishing and radio and TV (-3%). There was an overall decrease of 7,000 in the number of people employed in the creative industries in the UK in 2008.