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Trade deficit on the rise, again

11 February 2016

Imports are piling up. Photo feiyuezhangjie/shutterstock.com

The trade deficit rose again to £4 billion in the final quarter of last year, reaching £34.7 billion for 2015, which pushed above the previous year’s total, according to figures released by the Office for National Statistics (ONS) on Tuesday, outlining the vast amount by which imports exceed exports.

Britain is a dangerously imbalanced economy but our political leaders show little interest and have no inclination or plan to rectify matters. Other serious problems for our country are being stoked.

The ONS also reported that UK sales to countries in the EU fell short of those to the rest of the world for the second year in a row. Sales of goods to nations within the EU fell £11.6 billion, while export of goods to countries outside the EU increased by £3.5 billion.