UK posts record trade deficit despite December up turn

UK posts record trade deficit despite December up turn

The UK's Office of National Statistics indicated that the country's December trade deficit in goods was £4.43 billion, slightly better than November's £4.71 billion deficit. For 2004 as a whole, the UK recorded a record trade deficit in goods of £57.6 billion. The UK's trade in services reported a surplus of £1.41 billion in December, down from £1.46 billion recorded in November. As a result, the country's total trade in goods and services registered a deficit of £3.02 billion in December. For the whole of 2004, the total deficit in goods and services trade reached an all-time high of £39.3 billion.