Details form the October 2016 UK visible trade balance data report 9 December 2016
Prior -12.698bn
Trade bal -1.971bn vs -4.300bn exp. Prior -5.221bn. Revised to -5.812bn
Non-EU bal -1.598bn vs -3.450bn exp. Prior -3.969bn. Revised to -5.268bn
Exports -2.1% vs -0.8% prior. Revised to -1.6%
Imports -7.1% vs 4.7% prior. Revised to 1.3%
A big fall in imports. That's could be a decent boost to Q4 GDP but I want to see the details first.
One reminder, some of this might be down to the revisions that the ONS had to undertake this week after some errors were found in the data between Jan 2015-Sep 2016.
Have I even mentioned that I hate the ONS website and the way they present the data?
So far as I can see, exports to the EU are well on the up, while non-EU exports have been flat. Export prices rises rose 4.1% in Oct, while import prices rose 3.1%. Trade price inflation stood at 14.3% & 9.45 respectively.
