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UK Trade Deficit Widens to 25-Year High

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The trade deficit in the United Kingdom widened in the first quarter of the year, hitting the biggest deficit since data collection in 25 years.

Source: Office for National Statistics

EWU is down 0.72%, while VGK is down 2.23%.

The total trade in goods and services deficit excluding precious metals in the first quarter stood at £25.2 billion, reflecting a £14.9-billion increase. This is the largest deficit since 1997.

Total imports of goods excluding precious metals recorded a £4.4-billion increase, as imports from non-EU countries climbed by £2.4 billion or 9.9%, while imports from EU countries increased by £2.0 billion or 8.6%.

Total exports of goods excluding precious metals increased by £0.6 billion, including £0.4 billion or 2.6% in exports to non-EU countries, while exports to EU countries grew by £0.3 billion or 1.7%.

The trade in services surplus for the quarter was recorded at £37.0 billion, marking a £4.7-billion increase.

 

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