Trade gap soars to £10.8bn

13 April 2012

BRITAIN'S trade gap with the rest of the world has ballooned to its widest for more than 300 years as the consumer boom sucks in a record value of overseas goods.

The deficit blew out to £10.8bn in the April-June quarter from £9.2bn in the previous three months and the biggest since records began in 1697.

It widened to £4.97bn in June from £4.83bn in May. The trade in oil balance slumped to £22m, its lowest since August 1991, on declining North Sea volumes.

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