Already existent strong trade ties between neighbouring nations could potentially prove limiting for Britain’s trade expansion …
UK trade figures out this morning showed that despite a poor month of trading in July, the trade deficit almost halved between the quarter to April and the quarter to July (from £8.9bn to £4.7bn) after a strong summer for UK trade generally.
Last week it was reported that the UK’s balance of trade deficit increased to an estimated £3.3bn in July, compared to £2.4bn the previous month.
Trade deficit statistics have been even more volatile than usual recently, but the UK’s trade balance looks like it has been improving slowly.
This morning, official trade statistics were released for 2013, which included details on the top import and export markets for the UK, and what commodities are traded.