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- The total UK trade deficit widened £1.9 billion to £9.7 billion in the three months to April
The total UK trade deficit widened £1.9 billion to £9.7 billion in the three months to April
The total UK trade deficit widened £1.9 billion to £9.7 billion in the three months to April 2018, due mainly to falling exports of both goods and services.
Goods exports fell £3.1 billion, due mainly to falls in exports of machinery, pharmaceuticals and aircraft, while services exports also fell £2.5 billion in the three months to April 2018.
Falling volumes was the main reason for the declines in exports of machinery, pharmaceuticals and aircraft in the three months to April 2018 as price movements were relatively small.
The UK's trade in goods deficit improved £0.6 billion with countries outside of the EU and worsened £1.2 billion with countries inside the EU in the three months to April 2018.
A £9.9 billion improvement to the services trade surplus, due to a rise of 8.3% for services exports, meant the total trade deficit narrowed £6.7 billion in the 12 months to April 2018.
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