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Richmans' Trade and Taxes Blog
British exports see biggest fall in three years
If wishful thinking were enough, then Britain's exports would be increasing right now, in time to get Gordon Brown reelected. However, in January they were falling not rising. Here's a selection from the story (Blow for Gordon Brown as exports see biggest fall in three years) from the London Evening Standard:
Gordon Brown's hopes of an export-led recovery before the general election were dealt a hefty blow today.
Official figures showed that UK exports suffered their biggest fall for more than three years in January.
They plunged by £1.4 billion, or 6.9 per cent, to £19.5 billion compared with December in the largest month-on-month fall since July 2006, according to the Office for National Statistics.
The figures — which surprised the City given the fall in the pound which should have helped exporters — will dent Labour hopes that Britain's economy will pick up steam before 6 May, the expected election date.
Perhaps British and American economic policy makers will someday figure out that that they need to require balanced trade if they want to sell exports to the mercantilist countries.
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