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| Version 1 | Version 2 |
|---|---|
| Export boost narrows UK trade gap | Export boost narrows UK trade gap |
| (40 minutes later) | |
| A rebound in exports helped to narrow the UK trade deficit in February, official figures have shown. | A rebound in exports helped to narrow the UK trade deficit in February, official figures have shown. |
| The trade deficit in goods and services shrank to £2.1bn, down from a £3.9bn deficit in January. | The trade deficit in goods and services shrank to £2.1bn, down from a £3.9bn deficit in January. |
| The goods deficit narrowed to £6.17bn in February, down from £7.52bn the month before and the smallest goods deficit since June 2006. | The goods deficit narrowed to £6.17bn in February, down from £7.52bn the month before and the smallest goods deficit since June 2006. |
| Goods exports jumped 9.5%, rebounding after exports in January were affected by the heavy snow, analysts said. | Goods exports jumped 9.5%, rebounding after exports in January were affected by the heavy snow, analysts said. |
| The rise in goods exports - which was the biggest monthly increase since January 2003 - was boosted by a big jump in overseas chemical sales. Goods imports were barely changed from January's figure. | The rise in goods exports - which was the biggest monthly increase since January 2003 - was boosted by a big jump in overseas chemical sales. Goods imports were barely changed from January's figure. |
| The news lifted the pound slightly against the dollar, with sterling rising to $1.5394 from $1.5378. | |
| "The narrowing trade gap reported in today's figures will be seen as a welcome marker of improvement and another signal of potential growth for the UK economy throughout 2010," said Iain MacDonald, head of trade product at Barclays Corporate. | "The narrowing trade gap reported in today's figures will be seen as a welcome marker of improvement and another signal of potential growth for the UK economy throughout 2010," said Iain MacDonald, head of trade product at Barclays Corporate. |
| "The contracting deficit should also help settle concerns over a 'double-dip' recession and quell fears that January's fall in exports was a long-term trend." | "The contracting deficit should also help settle concerns over a 'double-dip' recession and quell fears that January's fall in exports was a long-term trend." |