UK trade deficit drops in February

UK trade deficit drops in February

The UK's trade deficit in goods and services fell from £3.5 billion in January to £3.3 billion in February, according to data released by the UK National Statistics Office. The trade deficit in goods amounted to £4.8 billion in February, down £300'000 million month on month. The UK's trade deficit with European Union (EU) member countries rose to £2.1 billion, largely because of higher exports of chemicals and cars. However, the deficit with non-EU countries dropped to £2.7 billion.