Britain's official trade deficit improves in August

12th October 2010, Comments 0 comments

Britain's trade-in-goods deficit narrowed in August from a record high level the previous month, as imports fell by more than exports, official data showed on Tuesday.

The deficit fell to 8.2 billion pounds (9.4 billion euros, 13.0 billion dollars) in August, data from the Office of National Statistics showed.

That compared with a record shortfall of 8.7 billion pounds in July, and compared with market expectations for a deficit of 8.0 billion.

"The narrowing of the trade deficit will come as welcome relief for the UK economy, though coming on the heels of last month's figures, the lack of a consistent pattern of growth in exports will still be a cause for concern," said Iain MacDonald, head of trade product at Barclays Corporate.

© 2010 AFP

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