The UK's trade gap in goods remained at a record level in August, as exports failed to receive a boost from the cheaper pound, another gloomy economic update revealed yesterday.
The difference between the UK's exports and imports was £8.2bn in August, the Office for National Statistics said. It was worse than the £7.6bn expected by analysts, and the largest deficit in the series, which dates back to 1697.
Total UK goods exports were £21.33bn in August, down 4.5% from the £22.3bn seen in July. Exports to non-EU countries also fell to a two-year low of £8.95bn.
The overall trade gap, including the contribution from services - the UK's main economy driver - narrowed slightly to £4.7bn in August, from £4.8bn the previous month.
Economists said the goods figures were disappointing as they showed UK exporters had yet to benefit from the weaker pound during recent months, and weaker overseas activity was adding to the UK economic woes.
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