No more blaming the eurozone: largest fall in exports is to non-EU countries

So much for the recession being made in the Eurozone. The latest figures from the Office for National Statistics (ONS) show that net trade is down and the largest fall in exports is to non-EU countries.

So much for the recession being made in the Eurozone. The latest figures from the Office for National Statistics (ONS) show that net trade is down and the largest fall in exports is to non-EU countries.

The UK’s deficit on trade in goods and services was estimated at £3.6 billion in February 2013, compared with £2.5 billion in January.

The biggest drop was in exports to non-EU countries, putting paid to George Osborne’s suggestion that the eurozone is to blame for Britain’s economic woes.

In February 2013, the deficit on trade in goods with non-EU countries increased by £0.9 billion to £4.3 billion.

Exports to non-EU countries decreased by £0.6 billion (4.7 per cent) to £11.8 billion and imports from non- EU countries increased by £0.3 billion (2.0 per cent) to £16.1 billion. At the commodity level:
Net exports down
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