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UK Trade Balance deficit rose to £10.2 billion

Friday, Feb 06 2015
Seasonally adjusted, the UK’s deficit on trade in goods and services was estimated to have been £2.9 billion in December 2014, compared with £1.8 billion in November 2014. This reflects a deficit of £10.2 billion on goods, above expected deficit of £9.0 billion, which was partly offset by an estimated surplus of £7.3 billion on services. The widening of the overall deficit mainly reflects an increase in the import of goods from countries outside of the European Union (EU).
 
Between Q3 and Q4 2014, the trade in goods deficit narrowed by £2.2 billion to £29.4 billion. Exports increased by £2.0 billion to £73.8 billion, attributed to increases in exports of manufactured goods. Imports decreased by £0.2 billion to £103.2 billion. Trade with countries outside of the EU was the main contributor to the deficit narrowing.
 
After the release Sterling edged down few points and is currently being traded around 1.53 handle. Pair is likely to find support around 1.5250 and resistance near 1.5350 level. Later today, in the US session, NFP figures are scheduled for a release.
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