UK First-Quarter Trade Deficit Widens to Biggest Since 2008

Britain’s trade deficit widened in the first quarter of 2016 to its biggest since the early days of the financial crisis, adding to signs that global weakness is weighing on the economy.

The shortfall in the first three months of the year widened to 13.273 billion pounds from 12.205 billion pounds in the last three months of 2015, its biggest for any calendar quarter since the first quarter of 2008, the Office for National Statistics said.

The deficit in goods alone widened to its highest since comparable records began in 1998 at 34.694 billion pounds.


Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at Visit to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam