Mumbai, May 14 -- The United Kingdom's trade deficit in goods and services widened by £4.5 billion on a quarterly basis to reach £7 billion in the three months to March, the Office for National Statistics (ONS) revealed in its report released on Thursday.
The good imports increased by £1.1 billion, or 2.1%, in the reported quarter, mainly due to higher imports from both the European Union and non-EU countries. Meanwhile, exports rose by £0.6 billion, or 1.9%, in March, driven by higher shipments to the EU.
The trade in goods deficit increased by £3.8 billion to £59.3 billion in the reported three-month period, while the trade in services surplus decreased by £0.7 billion compared to the previous quarter ...