BCC: Long term UK trade deficit is cause for concern
- The UK trade deficit in goods and services was £3.8 billion in March 2016, a narrowing of £0.5 billion from February
- Between Q4 2015 and Q1 2016, the trade deficit in goods and services worsened by £1.1 billion
Commenting on the UK trade figures for March 2016, published today by the ONS, David Kern, BCC Chief Economist, said:
“In spite of the small improvement seen in March, the UK’s trade deficit worsened over the quarter and remains unacceptably large.
“The trade figures are a further reminder that our external position remains vulnerable. It needs to be a national priority to support businesses in exporting goods and services, and additional efforts are needed to help firms to break into new and faster-growing markets.”