Britain's trade deficit shrank in December

Feb. 7, 2014 at 11:42 AM
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LONDON, Feb. 7 (UPI) -- Britain's trade deficit narrowed sharply from November to December, the Office of National Statistics said Friday.

The trade deficit fell from $5.9 billion in November to $1.6 billion in December, the data office said.

The trade gap reflected a deficit of $12.6 billion on goods and a surplus nearly to $11 billion on services, the agency said.

Exports rose 2.1 percent from November to December, while imports fell 3.8 percent.

The largest drop in imports were in big-ticket items of aircraft and ships.

ONS said exports to countries outside of the European Union have risen 9.3 percent since July 2013. Imports in the same period have declined by 9.6 percent, ONS said.

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