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09.11.2018 11:48

UK's trade deficit narrowed £3.2 billion to £2.9 billion in the three months to September

The total trade deficit (goods and services) narrowed £3.2 billion to £2.9 billion in the three months to September 2018, due mainly to an improving goods balance.

Goods exports increased £5.0 billion compared with a £2.1 billion rise in goods imports, resulting in the goods deficit narrowing £2.9 billion to £31.9 billion in the three months to September 2018.

Cars had the single-largest impact on the goods balance due to a combined £1.0 billion rise in non-EU exports and £1.7 billion fall in EU imports in the three months to September 2018.

Rising exports was the main factor for the goods deficit narrowing with both EU and non-EU countries, by £2.5 billion and £0.4 billion respectively, in the three months to September 2018.

Removing the effect of inflation, the total trade deficit narrowed £4.0 billion to £1.7 billion in the three months to September 2018.