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British trade deficit narrows more than estimated

Staff writer ▼ | May 11, 2016
The UK trade deficit on goods and services narrowed more than expected in March as exports rose, official data showed.
UK trade deficit
Britain   The narrowing of the UK deficit
The Office for National Statistics said the deficit came to £3.8bn in March, down from £4.3bn the previous month, beating analysts' estimates of £4.2bn.

The narrowing of the deficit was supported by a £0.4bn increase in exports to £23.7bn, which mainly included unspecified goods, machinery and transport equipment.

However, in the first quarter the total trade deficit for goods and services widened by £1.1bn to £13.3bn compared to the fourth quarter.

The trade in goods deficit widened by £1.4bn to £34.7bn between the first and fourth quarters, reflecting a £1.9bn rise in imports of goods to £104.6bn.

The trade in goods deficit with the EU also expanded by £0.7bn to £23.9bn- the widest on record - as a 1.6% increase in exports was offset by a 2.3% jump in imports.