Trade deficit worsens


The UK’s trading position with the rest of the world deteriorated in the second quarter of 2018, official figures show.


The UK’s current account deficit was £20.3 billion in the April-June quarter — a widening of the gap from the revised deficit of £15.7 billion in first quarter of the year.


The total trade deficit widened to £6.1 billion in the second quarter from a deficit of £3.3 billion in the first quarter. The widening of this deficit was driven by an increase in imports of goods, which reached a record high in the second quarter.


The trade in goods deficit in second quarter widened to £34.7 billion, while the trade in services surplus decreased to £28.6 billion in second quarter.

https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/balanceofpayments/apriltojune2018