Britain’s trade deficit – the gap between what the UK imports and exports – is now at its biggest since the financial crash in 2008. The latest figures out today show that the difference between the two is now £13.3bn for the first four months of 2016. That’s a jump from £12.2bn at the end of 2015. So what do the figures actually mean?
City analysts have described the trade deficit as ‘truly horrible’. The British Chambers of Commerce said the gap between imports and exports was ‘unacceptably large’. It’s not only those from the business world having their say on the latest figures though. As ever, these statistics are also being interpreted through the lens of the upcoming EU referendum. Vote Leave have said the stats show the EU is not working. Here’s what Matthew Elliott had to say:
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