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Financial News: UK Visible Trade Gap Widens In August

UK Visible Trade Gap Widens In August

10/10/2018 - 06:36:00 (RTTNews)

(RTTNews) - The UK's merchandise trade deficit widened in August from the previous month and was bigger than economists expected, preliminary data from the Office for National Statistics showed on Wednesday.

The visible trade deficit widened to GBP 11.19 billion from GBP 10.38 billion in July. Economists had expected a shortfall of GBP 10.8 billion.

Total trade deficit widened to GBP 1.27 billion from GBP 572 million in the previous month.

The surplus in the services trade grew to GBP 9.92 billion from GBP 9.81 billion.

Goods exports rose 1.4 percent month-on-month after a 1.8 percent increase in the previous month. Imports grew 3.1 percent following a 0.6 percent climb in July.

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