Economic Buzz: UK trade deficit widens to ?5.26 billion in July

The UK?s trade deficit widened to ?5.26 billion in July, the largest since February, as imports surged to a record ?81.71 billion. While goods exports rose 6.6%, led by stronger shipments of aircraft to Germany and machinery to the US and China, services exports declined 0.4% to a three-month low. Imports grew 2.4%, driven by higher purchases of ships from South Korea and aircraft and cars from Germany. Despite the export gains, rising import costs kept the trade gap elevated, reflecting ongoing external pressures on the UK economy.

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