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Trade deficit in UK shrinks

Staff Writer |
The UK's trade deficit shrank in December, but this was a small crumb of comfort when manufacturing, construction and overall economic growth all shrank too.

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The total trade deficit for goods and services widened £0.9bn to £10.4bn in the three months to December 2018, due mainly to a £1.5bn rise in goods imports.

For the whole of 2018, the total trade deficit widened £8.4bn to £32.3bn compared to 2017, due mainly to a £7.2bn increase in services imports.

For December alone, the UK visible trade deficit shrank to £12.1bn from £12.4bn but not as much was hoped, with the market having pencilled in a negative balance of £11.89bn.

The non-EU trade deficit shrank to £3.6bn from a revised £4.2bn, better than the £3.8bn that had been forecast.

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