UK annual trade gap hits record

The UK’s monthly trade deficit with the rest of the world grew in December to its biggest since May, as the nation also hit a record annual trade gap.

The Office for National Statistics said the goods trade deficit was £7.14bn ($14bn) in December, as against £6.87bn the previous month.

December’s figures helped push the annual trade deficit to its biggest since figures began in 1697.

The total UK trade deficit for 2006 was £55.8bn, up from £44.6bn in 2005.

Ross Walker of RBS said the trade figures are “a little bit worse than expected, a larger deficit than expected”.

BBC NEWS | Business | UK annual trade gap hits record

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