UK trade deficit narrows in April
The Office for National Statistics (ONS) has today revealed the UK’s trade deficit narrowed more than expected in April – attributed to a sharp fall in consumer goods.
According to the ONS, the global goods trade gap narrowed to £7.38 billion in the month from £7.70 billion in March – lower than the £7.55 billion expected by analysts.
Meanwhile, the goods trade gap with non-EU countries was £4.33 billion, from March’s £4.49 billion – due to a rise in oil imports.
The ONS said exports rose by 0.1% on a monthly basis to £24.6 billion, while imports were 0.9% lower on the month at £32 billion.