Friday, August 09, 2013
A glimmer of hope on trade
Posted by David Smith at 12:00 PM
Category: Thoughts and responses

Much better news on trade, with the monthly goods and services deficit falling to 1.5 billion in June from 2.6 billion in May on the back of a stronger performance in exports. Exports of goods in the seond quarter reached the highest level on record, Export volumes rose by 3.7% in the second quarter, against ba 2.2% increase in import volumes.

We have had dips in the monthly deficit before but there is evidence in these figures of a trend decline in the trade deficit. In the first half of 2012, the overall deficit was 18.4 billion. In the first half of 2013 it dropped to 12.1 billion. This is welcome. More here.