Arab Today, arab today britain shows little signs of rebalance
Last Updated : GMT 00:47:20
Arab Today, arab today
Arab Today, arab today

Britain shows little signs of rebalance

Arab Today, arab today

Arab Today, arab today Britain shows little signs of rebalance

Britain's exports data
London - XINHUA

Britain's latest exports data showed little signs of the country's economic rebalance, as export growth remained sluggish and the pound sterling's strength overshadowed its outlook, according to data published Thursday.
The British deficit on trade in goods and services was estimated to have been 2.4 billion pounds (4.1 billion U.S. dollars) in May, significantly larger than 2.1 billion pounds a month earlier, the Office for National Statistics (ONS) said.
Britain registered a 9.2 billion pounds deficit on goods trade, and an estimated surplus of 6.8 billion pounds on services in May, data showed. The trade deficit was larger than the market estimation consensus of 1.6 billion pounds.
The exports of goods increased by a mere 0.1 billion pounds between April and May 2014 to 24.1 billion pounds, while the import of goods increased by 0.5 billion pounds to 33.3 billion pounds, said the ONS.
In the three months to May 2014, the export of British goods inched up by 0.1 percent to 72.6 billion pounds, and import of goods increased by 0.5 percent to 98.9 billion pounds. The deficit on trade over the period was 26.3 billion pounds, figures also showed.
May's trade figures provided more disappointing news that manufacturers may be struggling to cope with the pound sterling's strength as well as other headwinds, commented Samuel Tombs, British economist at Capital Economist.
Firstly, the adverse impact of the pound sterling's 12 percent appreciation over the past year has probably not been fully felt yet. There are also signs that the eurozone's recovery may be losing what little steam it had, said Tombs in an analysis.
"In addition, with relatively import-intensive investment and consumption continuing to drive Britain's economic recovery, we doubt that the trade deficit will narrow much this year," he added.
The current account deficit for the fiscal year 2013-14 ending in March was 71.1 billion pounds, equivalent to 4.4 percent of the country's GDP. This was slightly lower than the highest current account deficit of 4.6 percent of GDP recorded in 1989, data showed by ONS at the end of March.
Martin Beck, senior economic adviser to the EY ITEM Club, said in a note: "Looking forward, we doubt that the export picture will brighten significantly, at least in the near-term."
"The recovery in the eurozone economy, Britain's largest single export market, is only running at a modest pace. The continued appreciation of the sterling, with the pound now at a near six-year high against the dollar, will damage British exporters' cost competitiveness."
Overall, Britain's expansion looks set to remain a largely domestic affair, said Beck. (1 pound = 1.71 U.S. dollars)

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today britain shows little signs of rebalance Arab Today, arab today britain shows little signs of rebalance

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:38 2017 Friday ,24 March

Pass health bill Friday or he'll move on

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday