UK Trade Deficit Widens by £8.6B in the Quarter to January

Source: Office for National Statistics

The UK posted a goods and services deficit of 21.3 billion pounds in the three months to January 2022, an increase of 8.6 billion pounds. FTSE 100 is up +0.90%, GBPUSD is down -0.13%.

• The rise in trade deficit reflects an 11.0% or 4.7 billion pounds jump in imports against an 8.7% or 2.5 billion pounds increase in exports.
• Imports from the EU countries increased by 24.3% or 4.7 billion pounds, while exports to the region fell by 20.7% or 3.0 billion pounds. Imports from non-EU countries were unchanged, while exports rose by 4.2% or 0.6 billion pounds. 
• Excluding precious metals, the goods deficit increased by 8.7 billion pounds to 51.8 billion pounds, while services surplus rose marginally to 30.5 billion pounds in the quarter to January.