UK trade deficit widens in August amid shrink in exports to US
The UK’s trade deficit stretched slightly in August, according to numbers on Thursday, as exports declined at a slightly faster pace than imports.
Numbers from the Office for National Statistics showed UK trade with the US also shrunk in August.
The UK’s trade deficit widened to £3.39 billion in August, from £3.02 billion a year prior.
Exports declined 1.2% on-month to £77.42 billion, while imports shrunk 0.7% to £80.81 billion.
The goods trade deficit alone widened to £21.18 billion in August from £20.65 billion in July, but services trade surplus edged up to £17.80 billion from £17.63 billion.
The ONS reported goods exports to the US shrunk to £4.5 billion in August, from £5.2 billion in July. Imports faded to £4.1 billion from £4.5 billion.
‘There have been considerable changes in the United States international trade policy in recent months, which has posed challenges for UK businesses,’ the ONS said.
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