The U.K. visible trade deficit narrowed in August as car exports increased from July, the Office for National Statistics reported Friday.
The deficit on trade in goods fell to GBP 11.1 billion from GBP 12.2 billion in July. It was expected to fall to GBP 9.9 billion.
Exports of goods climbed GBP 0.8 billion to GBP 23.6 billion. The increase was attributed to a GBP 0.6 billion growth in shipment of cars to a record high GBP 2.4 billion. Meanwhile, imports fell GBP 0.3 billion to GBP 34.7 billion.
The balance of trade in services showed a surplus of GBP 7.9 billion versus a GBP 7.8 billion surplus a month ago. As a result, the total trade shortfall narrowed to GBP 3.3 billion from GBP 4.4 billion in the previous month.
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