UK trade deficit drops in September on higher exports to EU nations

UK trade deficit drops in September on higher exports to EU nations
UK trade deficit drops in September on higher exports to EU nations

Mubasher: The UK trade deficit decreased by GBP 700 million to reach GPB 2.75 billion in September, data from the Office for National Statistics (ONS) revealed.

The UK attributed the decline in its trade deficit to an increase in its goods’ exports to the European Union (EU) countries.

The UK's goods deficit in September tumbled to GPB 11.25 billion, compared to GBP 12.3 billion in August.

“The quarterly change was “mainly due to large increases in imports of machinery, gold and fuel, partially offset by falling imports of aircraft,” a senior statistician in ONS, Kate Davies stated.

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Source: Mubasher

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