UK Trade Deficit Shrinks in August Due To Falling Imports

October 10, 2014 Share Print 0

The gap between the amount the UK imports and the amount it exports narrowed in August, the latest official figures show.

The Office for National Statistics (ONS) said the UK’s trade deficit in goods and services stood at £1.9bn in August, compared with £3.1bn in July.

But the narrowing was down to a fall in imports rather than a rise in exports.

Separate figures from the ONS also showed a fall in output from the UK’s construction industry.

Construction output dropped by 3.9% in August after a 1.9% rise in July, the ONS said.

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.