UK foreign Trade - March 2013
The value of UK trade increased for both EU imports and exports in March 2013, with imports rising by £1.9 billion, and exports rising by £0.4 billion against February 2013 totals. EU Imports are at their highest level since March 2012. There is a history of both imports and exports increasing in March, but this year the export figure has not risen as much as in previous years.
There is an increase of 31.8 per cent in the trade gap, the difference between UK imports from the EU and exports to the EU. This is the biggest increase in the trade gap in recent years. This difference is now £6.1 billion. The UK remains a net importer (imports are greater than exports).
The value of the UK’s EU exports has increased by £0.4 billion (3.4 per cent) compared to February 2013 to £12.9 billion. Compared with March 2012, the value of exports fell by £1.4 billion (9.9 per cent).
The value of the UK’s EU imports has increased by £1.9 billion (11.1 per cent) compared to February 2013, to £18.9 billion. This is the second highest import value in recent years, £0.3 billion (1.7 per cent) behind the highest in March 2012.