By Mucahithan Avcioglu
ISTANBUL (AA) - The UK's trade balance posted a deficit of £20.1 billion ($27.37 billion) in December, down from the previous month, the Office for National Statistics (ONS) said Thursday.
The market had expected the monthly deficit to come in at £22.3 billion in December.
The country's exports totaled £30.1 billion, down 3.2% month-on-month, while goods imports reached £50.2 billion, up 0.7%.
Exports to EU member states were at £14.6 billion, falling 1.9% monthly, while imports came in at £26.3 billion, down 2.4%, resulting in a deficit of £11.7 billion.
The trade deficit to non-EU countries was £8.4 billion, with exports dropping 4.4% to £15.5 billion and imports climbing 4.4% to £23.9 billion.
Exports to the US rose 2.5% or £100 million in December, due to a £200 million rise in exports of chemicals (inorganic chemicals).
"The value of goods exports to the United States have remained relatively low since the introduction of tariffs in April," the office said in a statement.
Meanwhile, imports from the US dropped 9.7% or £500 million, mainly due a £500 million fall in imports of material manufactures linked to lower imports of non-ferrous metals, and smaller falls across some other commodities.
"These falls were partially offset by a £0.4 billion rise in imports of fuels from higher imports of refined oil," the office added.