UK: RECORD TRADE DEFICIT WITH NON-EU NATIONS

Article Abstract:

The UK posted its highest ever trade deficit in December 1999 with countries outside the European Union (EU), at GB[pound] 2.3bn, with global trade up to GB[pound] 2.5bn from November 1999's GB[pound] 2.3bn. Analysts said that the figures undermined claims that industry was beginning to deal with the UK pound's strength. London reported a 21.5% rose in exports to GB[pound] 5.6bn in the third quarter compared with the first quarter, while East Anglia and the SouthEast posted growth of 14.6% and 11% respectively and the car industry helped the Northeast enjoy growth of 16.5%. In contrast, companies in the West Midlands saw exports decline by 1%, equivalent to GB[pound] 26mn, while a further six other UK regions experienced growth of below 6%.

Foreign Trade (Exports & Imports)

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UK: STRONG ECONOMIC GROWTH CONTINUES

Article Abstract:

The latest trade and output figures indicate that the UK's economy is growing strongly, confounding opinions that it is hindered by the strength of the pound. In the July to September period, exports rose by 8.2%, the biggest increase for 20 years and well above the 5.2% increase in imports. The strongest gains in exports were in chemicals, (+15%) capital goods (+10%) and cars (+6%). Manufacturing output rose by 1%, surpassing the 0.9% growth in services, while consumer expenditure slowed, damping fears of further interest rate rises. The favourable picture was confirmed by the annual review of the UK economy by the International Monetary Fund, which is optimistic about the long- term outlook, and said the economy was 'remarkable'.

Chemicals & Allied Products, Chemical Manufacturing, Gross National Product, Personal Consumption Expend, Consumer Expenditures, Sales & Orders, Private Households, Chemicals, Chemical industry, Consumer spending

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UK: BRITAIN TO MAINTAIN BORDER CONTROLS

Article Abstract:

The British Government has denied rumours that it is planning to dismantle its border controls and join the Schengen agreement on 'open borders' within the European Union. It was suggested that the Government was considering the move to bring closer co-operation with the European Union and to curb the number of asylum-seekers entering the UK. However, the Government has announced that it has no plans to remove border controls and would not consider such a move until after the next general election.

Trade negotiations

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