Trade and Industry
Ian McCartney (Minister of State (Trade & Investment), Department of Trade and Industry; Makerfield, Labour)
The UK trade balance was £4.7 billion in deficit in November 2006 (the most recent period for which figures are available from the ONS), up from £4.1 billion in October 2006, as a small rise in exports (up 0.5 per cent.) was outweighed by a larger rise in imports (up 2.3 per cent.).
Total UK exports (goods and services) were £326 billion in 2005—up 9 per cent. on 2004. There was a strong performance in both goods (up 11 per cent.) and services (up 6 per cent.).
The stock of inward investment in the UK rose to £483 billion at the end of 2005, a rise of £119 billion over the stock at the end of 2004.
The UK is the second most popular destination for inward investment in the world (behind the US).