FXStreet (Mumbai) – The data released by the UK Office for National Statistics (ONS) on Tuesday showed the goods trade deficit fell to GBP 8.561 billion in April, beating the estimate of a drop to GBP 9.850 billion. The goods trade deficit stood at GBP 10.705 billion in March.
Trade deficit with non-European Union nations also narrowed more than expected to GBP 2.094 billion, from GBP 3.429 billion. Meanwhile, the total trade deficit fell to GBP 1.202 billion in April from GBP 3.093 billion seen in March.
The ONS report further reveals that Exports of goods increased by GBP 0.7 billion, of which GBP 0.6 billion was to countries outside of the EU. Imports of goods fell by GBP 1.5 billion, reflecting falls in the imports of miscellaneous manufactures.
In the 3-months to April 2015, the UK’s deficit on trade in goods and services was estimated to have been GBP 7.2 billion; widening by GBP 1.6 billion from the 3-months to January 2015.
(Market News Provided by FXstreet)