Economics weekly by Lloyds TSB

Figures for December showed a widening in the UK’s trade deficit in goods with the rest of the world to £7.3bn from £6.8bn in November.

Can UK exports boost the recovery in 2010?

Figures for December showed a widening in the UK’s trade deficit in goods with the rest of the world to £7.3bn from £6.8bn in November. This represented the worst monthly outcome since January 2009 and called into question the expectation that UK growth in 2010 will be boosted by ‘net trade’, as exports exceed imports. In December, UK imports of goods rose by 5.2% while exports rose by 4.5%. Figures in the second release of UK gdp for Q4 2009 highlight how difficult the path to a strong economic recovery will be in 2010.

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