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UK trade deficit hits seven-month high in February

UK trade deficit worse than expected in February
UK trade deficit worse than expected in February

Britain’s goods trade deficit widened more than expected to a seven-month high in February as the value of exports fell to its lowest level in more than four years, according to official data.

The trade deficit in goods and services worsened to £2.9bn from £1.54bn in January, said the report by Office for National Statistics (ONS).

The deficit in goods was £10.34bn, up from £9.17bn in January, which was partly offset by a surplus of £7.5bn on services.

The report by the ONS said: “The widening of the trade deficit between January and February 2015 mainly reflects a fall in exports of goods to non-EU countries, particularly to the United States.”

SASKIA VALLENDAR - Deputy-News-Editor

Recent graduate with a degree in journalism and cultural studies. Her interested lie in business and financial journalism.                                  Twitter: @saskiavallender

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