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Financial News: UK Visible Trade Deficit Biggest Since September 2016

UK Visible Trade Deficit Biggest Since September 2016

06/11/2018 - 05:00:00 (RTTNews)

(RTTNews) - The United Kingdom's visible trade deficit in April was the biggest in over one-and-a-half years, data from the Office for National Statistics showed Monday.

The trade in goods deficit widened to GBP 14.035 billion from GBP 9.248 billion a year ago and GBP 12.003 billion in March. The latest figure was the biggest since September 2016, when the deficit was GBP 14.254 billion.

Economists had forecast a shortfall of GBP 11.4 billion.

Good exports decreased 5.9 percent from the previous month, while imports grew 0.8 percent.

Total trade deficit widened to GBP 5.280 billion from GBP 883 million in the same month last year. In March, overall trade deficit was GBP 3.220 billion.

Exports of goods and services combined dropped 3.2 percent and imports grew 0.7 percent.

The deficit in trade with non-EU countries widened to GBP 5.372 billion from GBP 1.445 billion a year ago. In March, the shortfall was GBP 3.788 billion. Economists had forecast a deficit of

The latest non-EU deficit figure was also the biggest since September 2016, when it was GBP 5.402 billion.

Shipments to countries outside the EU declined 9.3 percent, while imports from them increased 1.3 percent.

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