UK trade deficit widens to £6.4bn as non-EU exports decline

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The UK trade deficit widened to £6.4bn in the three months to February due to a fall in non-EU exports.

According to the Office for National Statistics (ONS), the total trade deficit widened by £400m, with non-EU goods exports declining by £2.1bn. This was offset by an increase of £900m in EU goods and £400m in total services exports.

Comparing the 12 months to February 2018 with the same period in 2017, the total trade deficit narrowed by £12.9bn to £27.5bn.

Goods imports increased by £1.1bn from the EU, which was slightly larger than the £900m increase in exports to the EU during the three month period.

The main contribution to the rise in imports from the EU was a £700m increase in imports of fuels, the ONS said, followed by increases of £300m in machinery and transport equipment.

 

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Source link: http://www.independent.co.uk/news/business/news/uk-trade-deficit-latest-updates-brexit-non-eu-exports-drop-a8299071.html

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