The UK’s trade deficit unexpectedly widened sharply in April to its highest level in nearly seven years, Analysts said it highlighted the continuing weakness in the UK economy.
The Office for National Statistics said the goods trade deficit grew to £10.103bn – the second-largest gap since records began in January 1998. That compared to a deficit of £8.734bn in March and economists’ forecasts for a gap of £8.50bn.
The goods trade deficit with non-EU countries widened to £5.202bn in April from £4.179bn in March. Exports to non-EU countries fell 10.3 per cent on the month, driven by lower sales of cars.
Meanwhile, there was a record gap in goods trade with the EU, this country’s biggest market. Exports of goods to the bloc dropped 6.8 per cent on the month, outweighing a three per cent fall in imports from the EU.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here