In the third quarter overall, the trade in goods deficit narrowed by £1.5bn on the second quarter [Image: Andrew Matthews/PA].

In the third quarter overall, the trade in goods deficit narrowed by £1.5bn on the second quarter [Image: Andrew Matthews/PA].

It means that, once again, the UK is losing money – and this time in a situation where we should be doing much better.

The fall in the value of the pound means it is cheaper for people in foreign countries to buy UK-made goods. But they aren’t doing that.

It means less money to spend and less money to invest – not that the UK government has been doing much of that lately, in any case.

Yet another Tory disaster.

Britain’s trade deficit with the rest of the world widened unexpectedly in September as the sharp fall in the pound since the Brexit vote failed to boost exports.

The UK trade in goods deficit increased by £1.6bn over the month to £12.7bn. Imports rose £1.3bn to £38.8bn, while exports fell by £200m to £26.1bn. Imports of ships, materials, vehicles and oil were all up in September, the Office for National Statistics said.

The disappointing figures suggested the 16% fall in the value of the pound since the EU referendum in June failed to lift exports, despite making British goods cheaper abroad.

Source: UK trade deficit widens unexpectedly as exports fall despite pound drop | Business | The Guardian

Do you want Vox Political to cover a story? Use this form to tell us about it (but NOT to comment on the article above, please):

Join the Vox Political Facebook page.

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook