UK trade deficit widens in Q4

UK trade deficit widens in Q4

Mubasher: The UK’s total trade deficit expanded in the fourth quarter of 2018, as a widening services surplus was partially offset by an expansion of goods deficit.

Total UK trade deficit grew by GBP 0.9 billion to GBP 10.4 billion ($) in Q4-18, the Office for National Statistics (ONS) said on Monday.

This was attributed to a GBP 1.4 billion widening in goods deficit which was driven by a GBP 1.5 billion rise in goods imports, totalling GBP 125.6 billion in the three-month period ended last December, while goods exports rose a modest GBP 50 million.

Total trade imports climbed by GBP 1.8 billion to GBP 169.3 billion in Q4-18, while total trade exports grew by GBP 1 billion to GBP 159 billion.

For the full year 2018, total UK trade gap swelled by GBP 8.4 billion year-on-year to GBP 32.3 billion.

By 10:54 am GMT, the GBP/USD pair fell 0.32% to $1.1903, as the EUR/GBP pair rose 0.23% to GBP 0.8761.