UK balance of payments
Article Abstract:
The UK balance of payments on the trading account has in recent years indicated a constant deficit in the visible balance of trade in goods. This has been mainly balanced out by a surplus in the trade of invisibles, or services. The deficit in trade in goods continues to rise, while the balance of trade in services is reaching record highs. The worsening in the UK balance of payments position, especially the increased demand for imports, can be partly explained by the fact that the domestic economy is expanding more rapidly than those of the UK's trading partners, thus causing imports to rise more rapidly than exports.
Publication Name: British Economy Survey
Subject: Business, international
ISSN: 0263-3523
Year: 1998
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UK balance of payments
Article Abstract:
The UK saw a deterioration of its balance of trade in goods between 1997 and 1998. The balance of trade in goods was in deficit by 5.2 billion pounds sterling in the third quarter of 1998, with this deficit having risen to 6.3 billion pounds sterling by the fourth quarter of 1998. However, the current account balance returned to surplus in the third quarter of 1998. The increase in the deficit on trade in goods has come at the same time as an appreciation in the value of sterling.
Publication Name: British Economy Survey
Subject: Business, international
ISSN: 0263-3523
Year: 1999
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UK balance of payments
Article Abstract:
The United Kingdom has developed a current account deficit which has worsened in 1999, while the surplus from services is decreasing. European Union countries and the US accounted for much of UK trade in 1st qtr 1999. Asian economies and former Commonwealth countries such as New Zealnd and Australia account for a relatively low proportion of trade. The General Agreement on Tariffs and Trade has a major impact on UK trade, and it is important to tackle trade disputes with the US.
Publication Name: British Economy Survey
Subject: Business, international
ISSN: 0263-3523
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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