UK Trade Deficit Hits £18.3 Billion as Exports Climb While Imports Slip

Source: Office for National Statistics

The United Kingdom posted a narrowed trade deficit in February, as imports contracted while exports expanded during the period. EWU is down 0.35%, while EZU is up 0.40% premarket.

• The total trade in goods balance grew by £3.1 billion to mark an £18.3-billion deficit versus the previous month.
• Total exports for the month stood at £28.6 billion, up by £2.1 billion or 7.8% from January.
• Total imports for February were recorded at £46.9 billion, £1.0 billion or 2.2% lower when compared with the month prior.
• Exports of goods to countries within the EU, excluding precious metals, increased by 25.4% from the previous month, but fell by 0.3% versus December 2021.
• The trade in goods deficit in the three months to February widened by £10.2 billion to £54.4 billion, as imports climbed by £13.5 billion and exports by £3.3 billion.