The UK's visible trade gap increased in February and exceeded economists' expectations, data from the Office for National Statistics showed Thursday.
The deficit on seasonally adjusted trade in goods was GBP 8.8 billion in February, compared with a revised GBP 7.9 billion deficit in January. Economists expected a deficit of GBP 7.65 billion, higher than January's previously estimated shortfall of GBP 7.53 billion.
The deficit on trade in goods and services was GBP 3.4 billion in February, higher than GBP 2.5 billion in January. Expectations were for a shortfall of GBP 2 billion.
Trade in services resulted in a surplus of GBP 5.4 billion in February, unchanged compared with January.
Excluding oil and erratic items, the seasonally adjusted volume of exports fell 5.3 percent month-on-month in February. Imports dropped 0.9 percent.
by RTT Staff Writer
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