8 May 2015
UK Trade deficit widened more than expected in March
FXStreet (Mumbai) - The data released by the UK Office for National Statistics (ONS) on Friday showed the goods deficit was bigger than expected in March.
The deficit in March narrowed to GBP 10.122 billion from the downwardly revised GBP 10.799 billion in February. Economists were expecting a gap of GBP 9.8 billion in March. The deficit in trade in goods in the January-March period stood at GBP 29.905 billion, up from GBP 29.144 billion in the fourth quarter of 2014.
The ONS also said goods exports in March rose 1.4% compared with February while imports fell 1%. In the first quarter, exports were down 3.6% compared with the fourth quarter and imports dropped 1.9%.
The deficit in March narrowed to GBP 10.122 billion from the downwardly revised GBP 10.799 billion in February. Economists were expecting a gap of GBP 9.8 billion in March. The deficit in trade in goods in the January-March period stood at GBP 29.905 billion, up from GBP 29.144 billion in the fourth quarter of 2014.
The ONS also said goods exports in March rose 1.4% compared with February while imports fell 1%. In the first quarter, exports were down 3.6% compared with the fourth quarter and imports dropped 1.9%.