UK trade deficit narrows in February

| April 12, 2011 | 0 Comments

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.

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