UK Trade Deficit Widened in February

The trade deficit of the United Kingdom has widened during the month of February due to the decline of exported products to the non-European Union countries, according to the reports from the Office for National Statistics. There was an increase in the deficit in trade of goods and services from January’s £2.5 billion to £3.4 billion for the month of February. There was a decrease in the sales of cars which decreased by £400 million. Countries that UK had less sales were the United States, Russia and China. The total exports of goods declined by 3.4 percent in the same month, while the figures for imports did not change. The goods trade deficit was up from £7.9 billion in January to £8.8 billion in February. The surplus for the services sector was not different and was recorded at £5.4 billion.