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UK trade deficit narrows more than expected in April

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Staff writer ▼ | June 10, 2016
Britain's trade deficit narrowed more than expected in April as exports on goods surged, official data showed.
UK trade deficit
Economy in Britain   The Office for National Statistics:
The Office for National Statistics said the total trade deficit fell to £3.29bn in April from a downwardly revised £3.53bn in March. It marked the lowest deficit since September and was better than the £3.55bn predicted by economists.

The deficit in goods alone dropped to £10.52bn in April from £10.64bn a month ago. Economists had forecast a deficit of £11.0bn, broadly in line with the initial March estimate.

Goods export volumes jumped by £2.2bn in April on the month to £26.1bn, the biggest rise since records started in 1998. Imports increased £2bn to £36.6bn.

In the three months to April, the total trade deficit for goods and services narrowed by £2.1bn to £11.3bn. The deficit on trade in goods narrowed by £1.5bn to £32.6bn as exports gained by £4.4bn and imports rose by £2.9bn.

ONS said the increase in exports was driven by increases in chemicals, oil, machinery and aircraft.