UK's trade gap falls unexpectedly

UK’s trade gap falls unexpectedly

UK's goods trade deficit narrowed unexpectedly in March as exports to non-EU countries surged. According to the National Statistics Office data, the country's goods trade deficit fell from £5 billion in February to £4.4 billion in March. This is the lowest figure since March 2004 and below expectations of £5 billion. UK's goods trade deficit with non-EU countries tumbled from £2.7 billion in February to £2 billion in March on robust exports of intermediate goods and capital goods. The deficit with the EU remained unchanged at £2.4 billion partly as a result of higher exports of oil offset by strong imports of cars, intermediate and capital goods.