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The UK’s total trade in goods and services deficit narrowed in the third quarter, according to figures from the Office for National Statistics on Friday.
The total trade in goods and services deficit for the third quarter narrowed to £6.0 billion compared to £13.1 billion in the second quarter.
The goods trade deficit narrowed by £7.0 billion to £44.2 billion in the third quarter, as goods imports fell at a faster pace than exports. The third-quarter services surplus widened by £100 million to £38.3 billion, as exports increased at a slightly faster pace than imports.
In September, goods imports dropped 6.2% to £44.3 billion compared to August, with imports falling from both the EU and non-EU countries. This was largely due to lower imports of machinery and transport equipment from the EU, and lower fuel imports from non-EU countries.
Meanwhile, goods exports fell 2.9% to £30.3 billion, with exports falling to both EU and non-EU countries. This resulted in a goods trade deficit of £14.0 billion, narrowed from £16.0 billion in August.
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