facebook
twitter
search
search

Britain's trade gap narrows

May 10, 2013 at 9:30 AM

LONDON, May 10 (UPI) -- Britain's Office for National Statistics said the national trade gap for goods narrowed slightly from $14.08 billion in February to $13.9 billion in March.

The decline was in line with forecasts with the gap shrinking despite a slightly larger trade gap in oils and other fuels.

ONS said the larger trade gap in petroleum products was a return to more normal levels after a smaller-than-average gap in January and February.

Exports of goods in the first quarter of the year rose by 1 percent, while imports were "virtually unchanged," the statistics office said.

Through the first period, the gap in energy products allow narrowed by $3.7 billion, due largely to a decline in imports, ONS said.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Google apologizes for photo app that tagged black couple as 'gorillas'
E-2D aerial refueling capability passes CDR
Shell to tap new Gulf of Mexico oil
Lockheed Martin spotlights new tracking pod system
Greek default leaves bruise on oil markets