The U.K. trade deficit narrowed more than expected to a 13-month low in April, the Office for National Statistics showed Tuesday.
The visible trade deficit narrowed by GBP 2.1 billion to GBP 8.6 billion in April, the smallest shortfall since March 2014. This was also the largest monthly fall since June 2013. The deficit was forecast to narrow to GBP 9.9 billion.
Exports rose GBP 0.7 billion, while imports declined GBP 1.5 billion from the prior month.
The visible trade gap with the EU nations fell to GBP 6.5 billion from GBP 7.3 billion. Likewise, the shortfall with non-EU countries narrowed to GBP 2.1 billion from GBP 3.4 billion.
The estimated surplus on trade in services totaled GBP 7.4 billion compared to GBP 7.6 billion in March.
The total trade deficit including goods and services came in at GBP 1.2 billion in April, the lowest since March 2014. It fell from GBP 3.09 billion in the prior month.
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