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The U.K. Office for National Statistics (ONS) released trade data on Thursday. The U.K. trade deficit in goods widened to £10.3 billion in February from £9.2 billion in January, missing expectations for a deficit of £9.1 billion. It was the lowest level since July 2014.
January's figure was revised down from a deficit of £8.4 billion.
The increase of the deficit was driven by a decline in exports of goods to countries outside the European Union. The value of exports decreased to the lowest level since September 2010.
Exports fell by 3.7% in February, while imports rose by 0.8%.
Shipments to the EU decreased 0.3%, while exports to non-EU countries dropped by 6.6%.
The total trade deficit, including services, widened to £2.86 billion in February from £1.54 billion in January.
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