By Daniel Hunter

According to data released by the Office for National Statistics (ONS) the UK's trade deficit more than doubled in August.

The difference in goods and services imported and exported widened to £4.2bn in August, from £1.7bn in July.

The UK's deficit with the 27 countries of the European Union - including the crisis-plagued eurozone - widened to £4.9bn in August from £4.4bn in July.

"For most economic statistics, any direct effects of the Olympics will be mainly seen in the August estimates," the ONS said.

August 2012

• Seasonally adjusted, the UK's deficit on trade in goods and services was £4.2 billion in August, compared with a deficit of £1.7 billion in July.
• There was a deficit of £9.8 billion on goods, partly offset by an estimated surplus of £5.7 billion on services.
• In the three months ending August 2012, trade in goods and services was estimated to have been in deficit by £9.8 billion, compared with a deficit of £9.2 billion in the preceding three months.
• Excluding oil and erratic items, the volume of exports was 1.2 per cent lower in the three months ending August 2012 compared with the preceding three months. The volume of imports fell 0.8 per cent over the same period.

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