UK trade gap less than expected in January

The UK's trade deficit was less than expected in January, thanks to strong exports of cars to the US, China and Russia, official figures have shown.

'Recession avoided'

David Kern, chief economist at the British Chambers of Commerce, said: "Taking monthly fluctuations into account, the figures confirm a steady improvement in Britain's trading position, although progress is not as strong as it should be.

"Exports are growing more quickly than imports, and it is reassuring that the economy is gradually rebalancing.

http://www.bbc.co.uk/news/business-17351761

Telegraph's take on this - http://www.telegraph.co.uk/finance/economics/9140743/Trade-gap-widens-but-recession-fears-ease.html

Japan's trade deficit hits record high on fuel imports

Japan's trade deficit surged to a record high in January as a strong yen hurt exports and its nuclear crisis resulted in increased fuel imports.

http://www.bbc.co.uk/news/business-17093255

Japan posts first annual trade deficit in 30 years

Japan has announced its first annual trade deficit in more than 30 years, a setback for a country known for its exports including cars and electronics. The deficit came in at 2.49 trillion yen ($32bn; £20bn) for 2011, the finance ministry said. Japan's imports rose 12% and its exports fell 2.7%, compared to the previous year. The decline in exports was attributed to the impact from the earthquake and tsunami on 11 March.


http://www.bbc.co.uk/news/business-16712816

UK trade deficit widens

The pound fell sharply against other major currencies following news that the UK's trade deficit has widened. Figures from the Office for National Statistics (ONS) showed that gap between the UK's imports and exports widened last month.

http://news.bbc.co.uk/1/hi/business/10113630.stm