MOSCOW (Sputnik) — London's trade deficit in its economic relations with the European Union hits an all-time high of 23.9 billion pounds ($34.4 billion at the current exchange rates) in the first three months of 2016, UK Office for National Statistics (ONS) said in a release on Tuesday.
"Between Quarter 4 (October to December) 2015 and Quarter 1 (January to March) 2016, the UK’s trade in goods deficit with the EU widened by £0.7 billion to £23.9 billion – the widest on record — reflecting a 1.6% increase in exports and a 2.3% increase in imports," the release reads.
It was added in the release that monthly deficit of 8.1 billion pounds in March trade with the 28-nation bloc was also the largest of the recorded.
According to the ONS, the total trade deficit of the United Kingdom for both goods and services widened by 1.1 billion pounds to 13.3 billion pounds on a three-monthly basis.
