UK's trade deficit drops to £2.9B in third quarter

Economy 11/9/2018, 10:43 AM
UK's trade deficit drops to £2.9B in third quarter

In the exchange of goods and services, Britain lowered its gap by £3.2 billion to £2.9 billion in the three months through September, mostly due to a jump in exports of merchandise by £5 billion, the Office for National Statistics said on Friday. The deficit in goods came down £2.9 billion quarter on quarter, to £31.9 billion, where the automotive sector had the biggest contribution. Namely, shipments to markets excluding the European Union rose £1 billion, together with a drop in incoming deliveries from the rest of the 28-member bloc by £1.7 billion.

The gap with the EU narrowed by £2.5 billion. Total deficit declined by £4 billion if inflation is taken out of the equation, to only £1.7 billion. The improvement in the trade balance was £7.6 billion in the year through September on an annual scale, the report revealed, but it was services that contributed the most, increasing the surplus in the segment.

Breaking the News / IT

Share:

GBP/JPY-0.29%

144.7090
Chart for: GBP/JPY Spot

GBP/CHF-0.29%

1.2825
Chart for: GBP/CHF Spot

EUR/GBP+0.34%

0.8899
Chart for: EUR/GBP Spot

GBP/USD+0.40%

1.2829
Chart for: GBP/USD Spot