Trade stats - September and Q3 2013

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Trade data is out today for September and Q3 from ONS.

Monthly figures are volatile, so, as usual, we urge caution reading too much into these figures. The total goods and services trade deficit was unchanged on the month at £3.3bn. Although many of the monthly goods indicators aren't heading the right way, we can see from the numbers below that the changes are small, reflecting the volatile nature of these stats. Monthly goods exports were down 0.7%, EU goods exports down 2.5% and non-EU exports up 1.1%.

Looking at the quarterly figures, overall goods exports were down 3.5% on the quarter, and down 0.1% compared with the same quarter in 2012.

Exports to the EU were up on the quarter by 1.8%. It was a more challenging three months for exports to non-EU markets, where exports fell 8.6% in Q3 compared with the previous quarter. This fall was driven by a range of commodities but particularly noteworthy in consumer goods and chemicals. Exports of cars bucked the trend seeing up an increase in sales of £140m to markets outside Europe.

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