By Daniel Hunter
The value of UK trade increased for both imports and exports in September 2012 compared to the lows seen last month, but neither has returned to July’s levels, according to the HMRC's Overseas Trade Statistics (OTS).
Both indicators are lower than the values from September 2011. This is a trend seen over the last few years, possibly as companies return to full production after a summer shutdown in August. However, this month’s increase is lower than seen in previous years.
The value of exports rose more than the value of imports. This resulted in a decrease of 10.0 per cent in the difference between UK imports from the EU and exports to the EU. This difference is now £4.6 billion.
- UK’s EU exports have increased by £0.7 billion (6.5 per cent) compared to August 2012, to £12.1 billion. Compared to September 2011 exports have decreased by £1.6 billion (11.4 per cent).
- UK’s EU imports have increased by £0.2 billion (1.4 per cent) compared to August 2012, to £16.7 billion. Compared to September 2011 imports decreased by £1.9 billion (10.2 per cent).
- The UK remains a net importer (imports are greater than exports). The size of difference between imports and exports (£4.6 billion) has decreased by 10.0 per cent compared to August 2012, and by 6.9 per cent when compared to September 2011.
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