1.   Analysts welcomed the unexpected improvement in the trade picture, but said the underlying deficit, which excludes trade in oil and erratic items, still remained a concern.

2.   The CSO defines erratic items as ships, North Sea installations, aircraft, precious stones and silver.

3.   The ONS defines erratic items as ships, North Sea installations, aircraft, precious stones and silver.

4.   The CSO said the improved trade picture was due to a growth in exports of erratic items, including precious stones and aircraft.

5.   The CSO said that a worsening trade balance in oil and erratic items accounted for a quarter of the change in the overall deficit.

6.   The CSO said two thirds of the increase in the second quarter deficit was accounted for by trade in erratic items such as precious stones, ships and aircraft.

7.   The CSO said the deterioration in the trade balance was mainly due to movements in erratic items trade.

8.   The CSO said the reduction in the deficit was more than accounted for by trade in erratic items such as precious stones, ships and aircraft.