UK trade deficit dips to £3.3bn

THE UK’S large trade deficit remained stubbornly high as the summer ended, with an upswing in growth doing little to close the gap between exports and imports.

The seasonally adjusted trade deficit in goods and services, announced by the Office for National Statistics yesterday, dipped slightly from £3.4bn in July to £3.3bn in August.

Exports of goods to countries outside the EU increased by £700m, while exports to European countries declined by £400m during the month.