United Kingdom Trade Gap Widens From Higher Imports

Daily Forex Fundamentals | Written by ecPulse.com | Nov 10 09 09:58 GMT |

Today, we see that the trade balance in the United Kingdom revealed a widened deficit, and this is a result of improved domestic demand despite the ongoing recession that ravaged economies around the world and left high unemployment rates around the globe. Visible trade balance for September revealed a widened deficit to 7194 million pounds from 6240 million pounds while the markets were projecting a narrowed deficit to 6100 million pounds. Total exported goods in September increased to 19,413 million pounds from 18,679 while total imported goods climbed to 26,607 million pounds from 24,752 million pounds. The trade gap widened the most since eight months as a result of higher imports of cars and this was a surprise to markets since they have been assuming that the weak pound should have boosted exports further. Trade balance non-European also faced a widened trade deficit to 3783 million pounds from 3046 million pounds which is worse than the forecasted deficit of 3000 million pounds. Total trade balance also for September expanded to 3469 million pounds worse than the projected and previous trade deficits of 2200 and 2318 million pounds respectively. Ecpulse disclaimer: The content of ecPulse.com and any page in the website contain information for investors/traders and is not a recommendation to buy or sell currencies, stocks, gold, silver & energies, nor an offer to buy or sell currencies, stocks, gold, silver & energies. The information provided reflects the writers' opinions that deemed reliable but is not guaranteed as to accuracy or completeness. ecPulse is not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trades currencies, stocks, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, stocks gold, silver &energies presented should be considered speculative with a high degree of volatility and risk