Economic Buzz: UK trade deficit at ?9.9B in three months to April

The United Kingdom's trade deficit in goods and services widened by ?7.7 billion on a quarterly basis to reach ?9.9 billion in the three months to April, the Office for National Statistics (ONS) revealed in its report released on Friday.

Imports rose by ?9.6 billion, or 4.1%, over the period, while exports increased by ?1.9 billion, or 0.8%. In April alone, goods imports climbed by ?0.8 billion, or 1.5%, driven by higher purchases from the European Union, while goods exports also rose by ?0.8 billion, or 2.6%, with increases to both EU and non-EU countries.

The trade in goods deficit increased by ?7.6 billion to ?62.5 billion in the reported three-month period, while the trade in services surplus decreased by ?0.2 billion compared to the previous quarter to stand at ?52.6 billion.

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