Showing posts with label terms of trade. Show all posts
Showing posts with label terms of trade. Show all posts
Tuesday, 12 July 2011
Increase In UK Trade But Deficit Goes Up
The UK trade balance deficit increased from £3.1bn in April to £4.1bn in May due to a larger increase in imports than exports which also increased in May. The deficit on trade in goods was £8.5bn in May compared with £7.6bn in April and the surplus on trade in services was £4.4bn in May compared with £4.5bn in the previous month. Both the volume of exports and the volume of imports increased in May. Export volume increased by 1.9% and import volume by 6%. Prices of exports fell by 1.7% and the prices of imports fell by 0.4% which meant a decrease in the terms of trade.
Wednesday, 9 June 2010
Deficit In Trade In April Up £0.1bn
The UK still has a deficit on trade in goods and services. In April the deficit was £3.3bn compared with £3.2bn in March. The deficit on trade in goods was £7.3bn but services still reported a surplus of £4bn compared with £4.1bn in March. Total exports of services fell by £0.1bn to £13.4bn and imports of services fell to £9.4bn.
Comparing April with March 2010 the main contributors to the difference were an increase of £171m from the export of cars, £130m from the export of chemicals and £125m from the export of consumer goods. There were decreases of £194m in intermediate goods and £201m in the export of aircraft. Sectors that made a significant difference on the import side were ships with an increase in value of £225m and £249m from the import of oil. Offsetting these were a decrease in the import semi-manufactured goods (other than chemicals) to the value of £392m and a decrease to the value of £159m from the import of consumer goods (other than cars).
The deficit on trade in goods with the EU increased slightly in April by £0.1bn to £3.3bn . Over the three months to April the deficit was £1.2bn smaller at £9.4bn. EU exports increased by £1.3bn to £34.4bn and EU imports by £0.1bn to £43.9bn.
As export prices fell by 0.2% and import prices increased by 0.2% in April compared with March, there was a decrease in the terms of trade. If oil is excluded, export prices fell by 1% and import prices fell by 0.2%. Over the quarter, there was a decrease in the terms of trade as export prices increased by 3.3% and import prices increased by 3.6%. Expoprt prices increased by 2.5% and import prices by 2.8% if the oil price effect is excluded. The balance of trade in oil in April was a deficit of £0.4bn. Oil exports were £2.7bn and imports £3.1bn. Over the quarter the balance of trade in oil was in deficit by £0.7bn. There was an increase in value of £0.6bn in exports to £7.9bn and an increase of £0.7bn in imports to £8.6bn.
Comparing April with March 2010 the main contributors to the difference were an increase of £171m from the export of cars, £130m from the export of chemicals and £125m from the export of consumer goods. There were decreases of £194m in intermediate goods and £201m in the export of aircraft. Sectors that made a significant difference on the import side were ships with an increase in value of £225m and £249m from the import of oil. Offsetting these were a decrease in the import semi-manufactured goods (other than chemicals) to the value of £392m and a decrease to the value of £159m from the import of consumer goods (other than cars).
The deficit on trade in goods with the EU increased slightly in April by £0.1bn to £3.3bn . Over the three months to April the deficit was £1.2bn smaller at £9.4bn. EU exports increased by £1.3bn to £34.4bn and EU imports by £0.1bn to £43.9bn.
As export prices fell by 0.2% and import prices increased by 0.2% in April compared with March, there was a decrease in the terms of trade. If oil is excluded, export prices fell by 1% and import prices fell by 0.2%. Over the quarter, there was a decrease in the terms of trade as export prices increased by 3.3% and import prices increased by 3.6%. Expoprt prices increased by 2.5% and import prices by 2.8% if the oil price effect is excluded. The balance of trade in oil in April was a deficit of £0.4bn. Oil exports were £2.7bn and imports £3.1bn. Over the quarter the balance of trade in oil was in deficit by £0.7bn. There was an increase in value of £0.6bn in exports to £7.9bn and an increase of £0.7bn in imports to £8.6bn.
Thursday, 13 May 2010
Trade Deficit
The trade deficit in March was £3.7bn compared with £2.2bn in February. On a quarterly basis the trade deficit for the first quarter (Q1) was £9.7bn compared with £8.7bn for Q4 2009. The trade surplus in services was valued at £3.8bn the trade deficit in goods was £7.5bn in March 2010 compared with £4.1bn and £6.3bn respectively in February.
In terms of changes in commodity value in March oil exports increased by £198m and exports of intermediate goods by £133m, chemicals imports decreased by £314m in value. The value of imports of intermediate goods increased by £268m and cars by £211m. All categories reported an increase in the value of imports during March. The change in the value exports of oil for the quarter was an increase of £511m. The value of consumer goods exports increased £372m. Exports of cars decreased in value by £236m and chemicals by £206m.
Geographical analyses show that within the G7 exports to the US fell by £0.5bn and imports from Germany increased in value by £0.3bn. Imports from Norway fell by £0.2bn during March compared with February. There were no significant changes in exports or imports within the G7 during the quarter but imports from Switzerland increased by £1.1bn, from Norway by £0.6bn and China by £0.5bn.
The volume of exports fell by 1.8% but imports increased by 3.5% with imports of basic materials up 6.5% and exports up 9%. Imports of cars went up 14.9% but exports fell by 5.2% in March. Over the quarter imports of basic materials increased 12.5% but exports fell 0.5%, imports of semi-manufactured goods increased by 13.2% but exports fell by 1.2%. Exports of consumer goods increased by 7.9%.
There was an increase in the terms of trade in March as exports prices rose by 2.9% and import prices rose by 2.7%. Over the quarter the terms of trade increased because export prices rose by 2.7% and import prices rose by 2.4%.
In terms of changes in commodity value in March oil exports increased by £198m and exports of intermediate goods by £133m, chemicals imports decreased by £314m in value. The value of imports of intermediate goods increased by £268m and cars by £211m. All categories reported an increase in the value of imports during March. The change in the value exports of oil for the quarter was an increase of £511m. The value of consumer goods exports increased £372m. Exports of cars decreased in value by £236m and chemicals by £206m.
Geographical analyses show that within the G7 exports to the US fell by £0.5bn and imports from Germany increased in value by £0.3bn. Imports from Norway fell by £0.2bn during March compared with February. There were no significant changes in exports or imports within the G7 during the quarter but imports from Switzerland increased by £1.1bn, from Norway by £0.6bn and China by £0.5bn.
The volume of exports fell by 1.8% but imports increased by 3.5% with imports of basic materials up 6.5% and exports up 9%. Imports of cars went up 14.9% but exports fell by 5.2% in March. Over the quarter imports of basic materials increased 12.5% but exports fell 0.5%, imports of semi-manufactured goods increased by 13.2% but exports fell by 1.2%. Exports of consumer goods increased by 7.9%.
There was an increase in the terms of trade in March as exports prices rose by 2.9% and import prices rose by 2.7%. Over the quarter the terms of trade increased because export prices rose by 2.7% and import prices rose by 2.4%.
Wednesday, 14 April 2010
Services Surplus Narrower In February
The seasonally adjusted trade deficit narrowed significantly during February 2010. The deficit on trade in goods and services fell from £3.9bn in January to £2.1bn in February. Trade in goods was £6.2bn in February compared with £8.1bn in January but the surplus on trade in services was £4.1bn in February from £4.2bn in January.
Exports increased by 6.3% but imports fell 1.4%. The prices of exports went up 0.5% and imports went up 0.3% compared with January. Total exports in goods increased 9.5% or £1.8bn to £21.3bn. Total imports of goods fell to £27.5bn. The single biggest contributor to the change in exports was chemicals with an increase of £629m. Oil was the second biggest with exports increasing by £370m and imports increasing by £205m.
An analysis of trade with EU countries shows that the deficit on trade in goods with EU countries narrowed by £0.6bn to £2.8bn in February 2010 compared with a deficit of £3.4bn in January. EU exports increased to £11.5bn and imports to £14.4bn.
The biggest export commodity traded with the EU was oil which increased in value by £751m over the quarter to February. There were large increases in value in imports of cars (£274m), fuels other than oil (£438m), capital goods (£108m) and intermediate goods (£176m). Imports of chemicals fell £279m over the quarter.
More geographical analysis shows that within the G7 group of countries export trade with the US increased by £0.5bn and with Germany by £0.2bn between January and February 2010. Import trade increased with Norway by £0.3bn but decreased with South Africa by £0.2bn.
The change in the volume of exports excluding oil and erratics increased by 6.3% but the volume of imports fell by 1.4% between January and February 2010. At the commodity level the biggest changes were in basic materials where exports increased by 42.7% and chemicals which increased by 15.2%. Over the quarter the biggest changes were in the export of cars which increased by 10.9% and the import of semi-manufactured goods (other than chemicals) which increased by 10%.
Export prices rose by 0.5% in February and import prices by 0.3%. The terms of trade therefore increased. If the oil price effect is left out export prices rose by 0.7% and import prices by 0.5%. Over the quarter export prices rose by 1.6% and import prices by 1.2%. Again that means an increase in the terms of trade.
The surplus on trade in services narrowed to £4.1bn compared with £4.2bn in January. Exports fell by 1.4% to £13.1bn and imports by 7.7% to £8.9bn.
Exports increased by 6.3% but imports fell 1.4%. The prices of exports went up 0.5% and imports went up 0.3% compared with January. Total exports in goods increased 9.5% or £1.8bn to £21.3bn. Total imports of goods fell to £27.5bn. The single biggest contributor to the change in exports was chemicals with an increase of £629m. Oil was the second biggest with exports increasing by £370m and imports increasing by £205m.
An analysis of trade with EU countries shows that the deficit on trade in goods with EU countries narrowed by £0.6bn to £2.8bn in February 2010 compared with a deficit of £3.4bn in January. EU exports increased to £11.5bn and imports to £14.4bn.
The biggest export commodity traded with the EU was oil which increased in value by £751m over the quarter to February. There were large increases in value in imports of cars (£274m), fuels other than oil (£438m), capital goods (£108m) and intermediate goods (£176m). Imports of chemicals fell £279m over the quarter.
More geographical analysis shows that within the G7 group of countries export trade with the US increased by £0.5bn and with Germany by £0.2bn between January and February 2010. Import trade increased with Norway by £0.3bn but decreased with South Africa by £0.2bn.
The change in the volume of exports excluding oil and erratics increased by 6.3% but the volume of imports fell by 1.4% between January and February 2010. At the commodity level the biggest changes were in basic materials where exports increased by 42.7% and chemicals which increased by 15.2%. Over the quarter the biggest changes were in the export of cars which increased by 10.9% and the import of semi-manufactured goods (other than chemicals) which increased by 10%.
Export prices rose by 0.5% in February and import prices by 0.3%. The terms of trade therefore increased. If the oil price effect is left out export prices rose by 0.7% and import prices by 0.5%. Over the quarter export prices rose by 1.6% and import prices by 1.2%. Again that means an increase in the terms of trade.
The surplus on trade in services narrowed to £4.1bn compared with £4.2bn in January. Exports fell by 1.4% to £13.1bn and imports by 7.7% to £8.9bn.
Wednesday, 10 February 2010
First Annual Figures For UK Trade 2009
The UK Trade deficit in goods and services in December 2009 was £3.3bn and in the fourth quarter (Q4) 2009 the deficit was £9.5bn. In November the figures were £2.9bn and £8.1bn respectively. In December 2008 it was £2bn.
The total balance of trade in goods and services with the world was a deficit of £7.3bn. The geographical pattern was that trade with the EU produced a deficit of £3.7bn and non-EU trade left a deficit of £3.6bn. The balance of trade in services left a surplus of £4bn. EU trade increased slightly and then remained the same over the last three months whereas non-EU trade decreased then increased again in December. The trend of growth in services has continued.
The first annual data for the whole of 2009 show that the trade deficit in goods and services narrowed by £4.4bn to £33.8bn in 2009. In 2008 it was £38.2bn. Trade in services, which is also included in the overall figure, in contrast, reported a surplus of £48.1bn in 2009. The surplus in trade in services decreased from a surplus of £55.1bn in 2008.
The deficit with EU countries narrowed by £2.5bn to £37bn in 2009 from £39.5bn in 2008. The non-EU deficit narrowed from £53.9bn in 2008 to December4.9bn in 2009, a difference of £9bn. The UKs most significant export trading partner outside the EU was the USA (£33.8bn) followed by Germany (£24.4bn). On imports it was the other way around. We imported more from Germany (£39.7bn) than anywhere else with USA second (£24.6bn).
There was a deficit in value on trade in goods of £7.3bn. Exports rose by £0.9bn, imports rose by £1.4bn. There were no great changes in the level of exports to any country over £0.2bn.
In terms of imports and exports, the volume of exports increased by 1%, imports by 4.5% in December. In Q4, the volume of exports increased by 5.8% and imports 7.2%. The price of exports increased by 0.1% and import 0.3% in December compared with November leading to a decrease in terms of trade. Over the quarter, export prices increased by 2% and import prices by 2.1%, leaving the terms of trade unchanged.
The total balance of trade in goods and services with the world was a deficit of £7.3bn. The geographical pattern was that trade with the EU produced a deficit of £3.7bn and non-EU trade left a deficit of £3.6bn. The balance of trade in services left a surplus of £4bn. EU trade increased slightly and then remained the same over the last three months whereas non-EU trade decreased then increased again in December. The trend of growth in services has continued.
The first annual data for the whole of 2009 show that the trade deficit in goods and services narrowed by £4.4bn to £33.8bn in 2009. In 2008 it was £38.2bn. Trade in services, which is also included in the overall figure, in contrast, reported a surplus of £48.1bn in 2009. The surplus in trade in services decreased from a surplus of £55.1bn in 2008.
The deficit with EU countries narrowed by £2.5bn to £37bn in 2009 from £39.5bn in 2008. The non-EU deficit narrowed from £53.9bn in 2008 to December4.9bn in 2009, a difference of £9bn. The UKs most significant export trading partner outside the EU was the USA (£33.8bn) followed by Germany (£24.4bn). On imports it was the other way around. We imported more from Germany (£39.7bn) than anywhere else with USA second (£24.6bn).
There was a deficit in value on trade in goods of £7.3bn. Exports rose by £0.9bn, imports rose by £1.4bn. There were no great changes in the level of exports to any country over £0.2bn.
In terms of imports and exports, the volume of exports increased by 1%, imports by 4.5% in December. In Q4, the volume of exports increased by 5.8% and imports 7.2%. The price of exports increased by 0.1% and import 0.3% in December compared with November leading to a decrease in terms of trade. Over the quarter, export prices increased by 2% and import prices by 2.1%, leaving the terms of trade unchanged.
Tuesday, 19 January 2010
UK Trade Deficit Cut By £0.2bn.
The seasonally adjusted trade deficit in goods and services was cut by £0.2bn from £3.1bn in October to £2.9bn in November. The deficit on trade in goods was £6.8bn compared with £7bn and the surplus on services was unchanged at £3.9bn. The volume of exports excluding oil and erratics was 0.2% up but the volume of imports was down 0.9% in November. Export prices fell 0.4% and import prices fell by 0.6% on October.
In terms of value, total exports were unchanged at £20.2bn though total imports fell by £0.2bn to £27bn. Exports of cars fell by £26m while imports of cars increased by £96m, but exports of consumer goods other than cars increased by £131m and imports of consumer goods other than cars fell by £227m. Exports of chemicals increased by £96m and imports fell by £138m on November compared with October 2009.
In the three months ended November 2009 the trade deficit in goods increased by £1.6bn to £20.7bn compared with a deficit of £19.2bn in the previous three months to August. Total exports rose to £59.8bn from £55.7bn and total imports rose to £80.6bn. Exports of chemicals increased by £713m and imports by £1,485m. Intermediate goods exports increased by £612m and imports by £974m. Exports of cars increased by £609m and imports by £1,086m.
In terms of volume, in November 2009 compared with October 2009, exports increased by 0.2% and imports decreased by 0.9% compared with October. Food, drink and tobacco exports increased by 2.7% and imports fell by 0.9%, basic materials exports fell by 8.8% and imports by 6%. Semi-manufactured goods increased by 0.9% and imports fell by 1.9% of which chemicals exports went up by 3.3% and imports fell by 4.1%. There was no change in the volume of finished manufactured goods overall but within the classification the volume of exports of consumer goods went up by 9.6% and imports fell by 4.5%, intermediate goods went up by 1.1% and imports by 2.4%.
In the three months ending in November, the volume of exports of goods rose by 5.5% and the volume of imports rose by 6.9% compared with the previous three months to August. The volume of exports of basic materials increased by 10% and imports by 9.2%. Finished manufactured goods volumes totalled a 5.8% increase in exports and 7.1% increase in imports of which exports of cars increased by 16.2% and imports by 25.5%, intermediate goods export volumes increased by 5.7% and imports by 7.6% and capital goods export volumes increased by 6.6% and imports by 5.1%.
Export prices fell by 0.4% and import prices by 0.6% in November compared with October leading to an increase in the terms of trade. Export prices, excluding the oil price effect, fell by 0.8% and import prices by 1%. In the three months to November export prices rose by 2.7% and import prices by 2.3% on the previous quarter likewise leading to an increase in the terms of trade. Export prices, excluding the oil price effect, rose by 2.2% and import prices by 1.8%.
Trade in services remained unchanged in November with a surplus of £3.9bn. Exports rose by £0.2bn and imports by £0.2bn. Total exports were unchanged at £38.8bn although imports rose slightly by £0.1bn to £27.2bn.
In terms of value, total exports were unchanged at £20.2bn though total imports fell by £0.2bn to £27bn. Exports of cars fell by £26m while imports of cars increased by £96m, but exports of consumer goods other than cars increased by £131m and imports of consumer goods other than cars fell by £227m. Exports of chemicals increased by £96m and imports fell by £138m on November compared with October 2009.
In the three months ended November 2009 the trade deficit in goods increased by £1.6bn to £20.7bn compared with a deficit of £19.2bn in the previous three months to August. Total exports rose to £59.8bn from £55.7bn and total imports rose to £80.6bn. Exports of chemicals increased by £713m and imports by £1,485m. Intermediate goods exports increased by £612m and imports by £974m. Exports of cars increased by £609m and imports by £1,086m.
In terms of volume, in November 2009 compared with October 2009, exports increased by 0.2% and imports decreased by 0.9% compared with October. Food, drink and tobacco exports increased by 2.7% and imports fell by 0.9%, basic materials exports fell by 8.8% and imports by 6%. Semi-manufactured goods increased by 0.9% and imports fell by 1.9% of which chemicals exports went up by 3.3% and imports fell by 4.1%. There was no change in the volume of finished manufactured goods overall but within the classification the volume of exports of consumer goods went up by 9.6% and imports fell by 4.5%, intermediate goods went up by 1.1% and imports by 2.4%.
In the three months ending in November, the volume of exports of goods rose by 5.5% and the volume of imports rose by 6.9% compared with the previous three months to August. The volume of exports of basic materials increased by 10% and imports by 9.2%. Finished manufactured goods volumes totalled a 5.8% increase in exports and 7.1% increase in imports of which exports of cars increased by 16.2% and imports by 25.5%, intermediate goods export volumes increased by 5.7% and imports by 7.6% and capital goods export volumes increased by 6.6% and imports by 5.1%.
Export prices fell by 0.4% and import prices by 0.6% in November compared with October leading to an increase in the terms of trade. Export prices, excluding the oil price effect, fell by 0.8% and import prices by 1%. In the three months to November export prices rose by 2.7% and import prices by 2.3% on the previous quarter likewise leading to an increase in the terms of trade. Export prices, excluding the oil price effect, rose by 2.2% and import prices by 1.8%.
Trade in services remained unchanged in November with a surplus of £3.9bn. Exports rose by £0.2bn and imports by £0.2bn. Total exports were unchanged at £38.8bn although imports rose slightly by £0.1bn to £27.2bn.
Wednesday, 11 November 2009
Terms Of Trade Unchanged In September
There was a seasonal deficit on trade in goods and services of £3.5bn in the month of September. The results for Q3 were an £8.4bn deficit compared with £8.6bn in Q2. The deficit in trade in goods alone was £7.2bn. The seasonally adjusted surplus of trade in services was £3.7bn. The volume of exports, excluding oil and erratics, was 0.2% lower, but the volume of imports was 4.1% higher compared with August. Both export and import prices rose by 1.1% in September compared with August.
The total value of exports in September was £19.4bn and increase of £0.7bn and the total value of imports rose by £1.9bn to £26.6bn. In Q3 2009 the trade in goods deficit was £19.8bn, down £0.1bn, total exports rose by £2bn to £56.9bn and total imports by £1.9bn to £76.7bn.
At the commodity level, important factors in September were capital goods and oil exports and imports of cars, aircraft, chemicals and intermediate goods. Quarterly figures show that cars, chemicals and oil were important exports and oil and cars were also important imports.
The EU-wide trade deficit widened to £3.4bn compared with £3bn in August. EU exports rose to £10.9bn (up £0.6bn or 6.2%) and imports to £14.3bn (up £1bn or 7.8%). Again the most significant factors were oil, cars and capital goods. Trade within the G7 export trade during September compared with August fell by £0.2bn with the USA, the largest among the G7 countries. Import trade within the G7 from Germany rose by £0.4bn. Imports from South Africa rose by £0.2bn. Over the quarter within the G7, exports to the US rose by £0.5bn and to germany and France both by £0.4bn. Imports from Germany rose by £0.8bn but imports from the USA fell by £0.5bn.
The volume of exports fell by 0.2% in the month to September but the volume of imports rose by 4.1%. Over the quarter, exports rose by 3.6% and imports by 3.5% compared with Q2. The terms of trade were unchanged in September as both import and export prices rose by 1.1%. There was an increase in the terms of trade between Q2 and Q3 because export prices rose by 0.6% but import prices fell by 0.4%.
The surplus on trade in services narrowed to £3.7bn in September from £3.9bn in August. Total exports fell by £0.1bn to £13.2bn but imports rose £0.1bn to £9.5bn. In Q3 the surplus on trade in services widened to £11.4bn. Total exports rose to £39.7bn (up £0.3bn or 0.9%) and imports rose to £28.3bn (up £0.2bn or 0.8%).
The total value of exports in September was £19.4bn and increase of £0.7bn and the total value of imports rose by £1.9bn to £26.6bn. In Q3 2009 the trade in goods deficit was £19.8bn, down £0.1bn, total exports rose by £2bn to £56.9bn and total imports by £1.9bn to £76.7bn.
At the commodity level, important factors in September were capital goods and oil exports and imports of cars, aircraft, chemicals and intermediate goods. Quarterly figures show that cars, chemicals and oil were important exports and oil and cars were also important imports.
The EU-wide trade deficit widened to £3.4bn compared with £3bn in August. EU exports rose to £10.9bn (up £0.6bn or 6.2%) and imports to £14.3bn (up £1bn or 7.8%). Again the most significant factors were oil, cars and capital goods. Trade within the G7 export trade during September compared with August fell by £0.2bn with the USA, the largest among the G7 countries. Import trade within the G7 from Germany rose by £0.4bn. Imports from South Africa rose by £0.2bn. Over the quarter within the G7, exports to the US rose by £0.5bn and to germany and France both by £0.4bn. Imports from Germany rose by £0.8bn but imports from the USA fell by £0.5bn.
The volume of exports fell by 0.2% in the month to September but the volume of imports rose by 4.1%. Over the quarter, exports rose by 3.6% and imports by 3.5% compared with Q2. The terms of trade were unchanged in September as both import and export prices rose by 1.1%. There was an increase in the terms of trade between Q2 and Q3 because export prices rose by 0.6% but import prices fell by 0.4%.
The surplus on trade in services narrowed to £3.7bn in September from £3.9bn in August. Total exports fell by £0.1bn to £13.2bn but imports rose £0.1bn to £9.5bn. In Q3 the surplus on trade in services widened to £11.4bn. Total exports rose to £39.7bn (up £0.3bn or 0.9%) and imports rose to £28.3bn (up £0.2bn or 0.8%).
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