Trade - Yet another record deficit
WORKERS, APR 2008 ISSUE
Britain's trade deficit with the rest of the world was £4.1 billion in January, unchanged from December. For goods alone, the deficit – the difference between what we export and import – totalled £7.5 billion, also unchanged from the last month of 2007.
Higher raw material costs meant that import price inflation rose at its fastest rate in almost 15 years. The import price index excluding oil jumped 2.2%, the biggest rise since July 1993.