Total exports of goods, excluding precious metals, increased by £0.4 billion (1.2 per cent) in August, driven by a £0.7 billion (4.1 per cent) rise in exports to non-EU nations, while exports to EU countries decreased by £0.3 billion (1.5 per cent), the Office of National Statistics (ONS) said in a note.
The increase in imports from non-EU countries in the month was primarily driven by higher imports of fuels and machinery and transport equipment.
For the three months to August 2022, the total trade deficit, excluding precious metals, widened by £0.2 billion to £25.6 billion compared with the three months to May.
The trade in goods deficit, excluding precious metals, widened by £0.9 billion to £61.9 billion in the three months to August, driven by a £4.7-billion rise in goods imports.
Disregarding the impact of inflation, the total trade deficit, excluding precious metals, narrowed by £6.5 billion to £11.9 billion in the three months to August this year.
ALCHEMPro News Desk (DS)
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