TOP NEWS: UK Trade Deficit Widens To GBP10.4 Billion In Fourth Quarter

LONDON (Alliance News) - The UK trade deficit gapped to GBP10.4 billion in the final quarter of ...

Alliance News 11 February, 2019 | 10:07AM
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LONDON (Alliance News) - The UK trade deficit gapped to GBP10.4 billion in the final quarter of 2018, the Office for National Statistics showed on Monday.

In the third quarter, the UK had posted a GBP9.5 billion trade deficit. The wider deficit in the final three months of 2018 was due mainly to a GBP1.5 billion rise in goods imports, driven by cars, material manufactures, and chemicals.

Total trade imports came in at GBP169.3 billion for the quarter, outstripping exports of GBP159.0 billion.

For 2018 as a whole, the trade deficit widened to GBP32.3 billion from GBP23.9 billion in 2017, which the ONS said was largely down to a GBP7.2 billion increase in services imports.

Exports to EU countries increased by GBP6.7 billion in 2018, but these were more than offset by a GBP6.9 billion rise in imports. Export to non-EU countries grew by GBP4.5 billion, but again this was swamped by imports from non-EU countries rising by GBP6.1 billion.

By Lucy Heming; lucyheming@alliancenews.com

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