Thursday, June 09, 2011
Trade deficit in goods narrows
Posted by David Smith at 10:30 AM
Category: Thoughts and responses

The economy's quiet and so is the trade picture. The overall trade deficit in goods and services remained at 2.8 billion in April, though the originally reported 3 billion deficit for March was revised down. The deficit in goods narrowed from 7.7 billion to 7.4 billion as a result of a 0.1 billion rise in exports and a 0.3 billion fall in imports.

Otherwise, the trends were muted. As th4e Office for National Statistics put it: "Excluding oil and erratic items, the seasonally adjusted volume of exports was 2.6% lower and the volume of imports was 1% lower in April, compared with March. Export prices of goods rose by 1.5% and import prices of goods rose by 1.1%, compared with March." Interesting to see export prices rising faster than those for imports, though that may be a compositional effect. More here.