UK trade deficit widens in August amid shrink in exports to US

(Alliance News) - The UK's trade deficit stretched slightly in August, according to numbers on Thursday, as exports declined at a slightly faster pace than imports.

Numbers from the Office for National Statistics showed UK trade with the US also shrunk in August.

The UK's trade deficit widened to GBP3.39 billion in August, from GBP3.02 billion a year prior.

Exports declined 1.2% on-month to GBP77.42 billion, while imports shrunk 0.7% to GBP80.81 billion.

The goods trade deficit alone widened to GBP21.18 billion in August from GBP20.65 billion in July, but services trade surplus edged up to GBP17.80 billion from GBP17.63 billion.

The ONS reported goods exports to the US shrunk to GBP4.5 billion in August, from GBP5.2 billion in July. Imports faded to GBP4.1 billion from GBP4.5 billion.

"There have been considerable changes in the United States international trade policy in recent months, which has posed challenges for UK businesses," the ONS said.

By Eric Cunha, Alliance News news editor

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