Trade Balance

Part of Oral Answers to Questions — Trade and Industry – in the House of Commons at 10:30 am on 22nd February 2007.

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Photo of Ian McCartney Ian McCartney Minister of State (Trade & Investment), Department of Trade and Industry, Minister of State (Trade & Investment), Foreign & Commonwealth Office 10:30 am, 22nd February 2007

The deficit on trade in goods and services was £4.9 billion in December 2006, the most recent period for which figures are available from the Office for National Statistics. There was a robust growth in UK exports of goods and services in 2006. The value of exports of goods and services was up 12.7 per cent. on 2005. The value of UK goods exports was up 15.2 per cent. on the previous year. 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 today.