The UK trade deficit narrowed in August to its slimmest gap since February, as exports spiked to a near two-year high, numbers on Friday showed.
The nation’s total trade deficit improved to £955 million in August from £4.71 billion in July.
Exports increased 5.4% on-month to £73.68 billion in August, from £69.89 billion in July. At the same time, imports barely budged, coming in at £74.63 billion in August, versus £74.60 billion in July.
It was the highest level of exports since December 2022, when they amounted to £76.51 billion.
The goods trade deficit narrowed to £15.06 billion in August from £18.87 billion in July. The services trade surplus faded ever-so-slightly to £14.11 billion from £14.16 billion.
The trade deficit of goods with the EU narrowed to £10.11 billion from £12.02 billion.
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