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UK Trade Deficit Narrows in April

2024-12-25OANDAOANDA
he UK trade deficit narrowed to £1.2bn in April from £3.1bn in March, the Office for National Statistics said. An £8.6bn deficit on goods was partially offset by an estimated surplus of £7.4bn on services, it said. The ONS added that in the quarter to April, exports were flat after 0.3% growth in the first […]

he UK trade deficit narrowed to £1.2bn in April from £3.1bn in March, the Office for National Statistics said.
An £8.6bn deficit on goods was partially offset by an estimated surplus of £7.4bn on services, it said.

The ONS added that in the quarter to April, exports were flat after 0.3% growth in the first quarter, but imports were up 2.1%, the same as in the three months to March.

UK exporters have struggled in the face of weak demand in the eurozone.
Part of the deficit dip was down to a fall in imports of art and furniture, said the ONS. Another factor was less oil being imported.

Last year, companies began stockpiling oil as the price of the commodity collapsed.

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