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Financial News: UK Visible Trade Deficit Narrows In February

UK Visible Trade Deficit Narrows In February

04/11/2018 - 05:23:00 (RTTNews)

(RTTNews) - The UK visible trade deficit narrowed to a 5-month low in February, the Office for National Statistics said Wednesday.

The trade in goods showed a shortfall of GBP 10.2 billion in February versus a GBP 12.2 billion deficit posted in January. This was the lowest shortfall since last September.

In the same period of 2017, the visible trade gap totaled GBP 10.9 billion. The expected level of deficit was GBP 11.9 billion.

The visible deficit with the EU narrowed by GBP 2.9 billion to GBP 94.4 billion and with non-EU countries widened by GBP 1.1 billion to GBP 41.4 billion in the twelve months to February.

Data showed that the total trade deficit, including goods and services, declined notably to GBP 965 million from GBP 2.95 billion in January.

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