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The UK’s trade deficit narrowed slightly at the end of last year, numbers on Thursday showed, as imports fell faster than exports.
According to the Office for National Statistics, the nation’s trade deficit totalled £2.60 billion in December from £3.72 billion in November. It was the slimmest trade deficit since September’s £1.59 billion.
Total exports fell 2.0% to £68.76 billion in December from £70.15 billion in November. Imports fell at the faster pace of 3.4% to £71.36 billion from £73.87 billion.
The ONS noted the value of goods imports alone declined 5.4% on-month, drive by decreased fuel imports. Goods exports were 2.2% lower. The ONS put that down to weaker exports to the EU.
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