The United Kingdom's trade deficit with non-EU countries widened in March 2024, according to the latest data released on 10 May 2024. The trade balance, which measures the difference between a country's exports and imports, worsened from -£2.90 billion in February to -£3.81 billion in March. This indicates that the UK imported more goods and services from non-EU countries than it exported during that period.
The increase in the trade deficit could have implications for the UK economy, impacting factors such as currency exchange rates and overall economic growth. Policymakers and analysts will be closely monitoring the trade balance figures to assess the country's international trade dynamics and economic performance in the coming months.
