Trade deficit in UK shrinks
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. ■