UK trade deficit narrows in February
The Office for National Statistics (ONS) has today revealed the UK’s trade deficit narrowed in February.
According to the ONS, the global goods trade gap narrowed to £6.8 billion in the month from £7.8 billion in January.
Analysts had expected a widening in the deficit to £8.1 million.
Stripping out oil and erratic items, the seasonally adjusted volume of exports was 2.9% higher but the volume of imports fell 3.2% in February on a monthly basis.
Following the release of the data, sterling fell against the US dollar to hit 1.6244.