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Market news

11 February 2019

UK total trade deficit widened in the three months to December 2018

According to the report from Office for National Statistics, the total trade deficit (goods and services) widened £0.9 billion to £10.4 billion in the three months to December 2018, due mainly to a £1.5 billion rise in goods imports.

Rising imports of cars, material manufactures and chemicals were the main contributors to the rise in goods imports in the three months to December 2018; this was offset in part by falling imports of unspecified goods (including non-monetary gold) and fuels.

The trade in goods deficit widened £1.6 billion with EU countries and narrowed £0.2 billion with non-EU countries in the three months to December 2018.

Excluding erratic commodities, the total trade deficit widened £3.8 billion to £12.9 billion in the three months to December 2018.

Removing the effect of inflation, the total trade deficit widened £0.6 billion to £7.1 billion in the three months to December 2018.

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