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November 9, 2010    

UK trade deficit narrows in September

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by Kay Murchie

The Office for National Statistics (ONS) has today revealed the UK’s trade deficit narrowed slightly in September as exports outpaced imports.

According to the ONS, the goods trade gap narrowed to £8.2 billion in September, down from the £8.5 billion reported in August and July.

Analysts had expected a deficit of £8 billion.

The ONS said exports rose by 2.2% in the month, while imports declined by 0.8%.

Meanwhile, the non-European Union trade deficit also fell slightly to £4.6 billion in September from £4.7 billion in August, while trade with the EU, which accounts for approximately two-thirds of UK exports, noted a slight improvement as the trade deficit dipped from £3.8 billion in August to £3.6 billion.

In related news, British Prime Minister David Cameron is in China for trade talks, in a move designed to strengthen business with Beijing.

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