September 9, 2009

Britain’s trade balance holds steady

The British trade deficit in July was unchanged for the second consecutive month, the Office for National Statistics said Wednesday.

July's preliminary trade deficit estimate came in at $3.9 billion, unchanged from both June and May.

In July, import and export prices kept in stride, both dropping by a half a percent compared with June, the ONS said.

Britain's trade deficit in goods reached $10.7 billion, also unchanged since June. The goods deficit with the European Union dropped slightly in July from $4.6 billion to $4.3 billion. Among non-EU countries, the goods deficit grew by $331 million to $6.4 billion.