UK’s trade deficit stood at 19.6 billion pounds (about $25.4 billion) in February, up 2.9 billion pounds from the previous month, the Office for National Statistics said on Friday.
Exports rose 1.8 per cent m/m to 76.24 billion pounds, hitting a 27-month high, while imports fell 0.9 per cent to 78.19 billion pounds.
Goods exports increased by 0.6%, with exports to non-EU countries remaining stable as decreases of £0.6 billion in material exports and £0.3 billion in miscellaneous exports were offset by increases of £0.3 billion in exports of machinery and transport equipment and fuel.
Exports to the EU also remained stable as a £0.6 billion decrease in fuel exports was offset by a £0.3 billion increase in machinery and transport equipment exports, a £0.2 billion increase in material products exports and a £0.1 billion increase in chemical exports.
Imports of goods fell by 2.9 per cent, with imports from non-EU countries down 2.6 per cent, while imports from EU countries fell by 3.2 per cent.
