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MNI BRIEF: UK Q1 Trade Deficit Hits Record High

(MNI) LONDON
(MNI) London

The UK trade gap — excluding precious metals — widened to a record GPB25.2 billion in the first quarter, the largest since record began, from £10.3 billion in Q4.

Over the first quarter, total adjusted exports rose by 2.1%, with EU exports rosing by 1.7%. Total imports jumped by 9.3%, with EU imports rising 8.6%. Net trade subtracted 4 percentage points from GDP growth.

Excluding non-monetary gold, the trade gap rose to GBP10.0 billion in March from GBP6.2 billion in February.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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