The UK’s overall trade deficit fell to £3.8bn in March
by Peter Spence, Economics Correspondent
Telegraph.co.uk
The UK’s goods trade deficit with the EU has risen to a record high as the country approaches a crucial vote on its membership of the bloc.
The gap – the amount by which goods imported from the EU exceeds goods exported to it – increased to £8.1bn in March, the highest level ever recorded.
Rising imports caused the gap to widen by £16m compared with the previous month, prompted mainly by increased purchases of works of art. Exports of goods to the EU were unchanged.
Meanwhile, the UK’s overall trade deficit – with EU and non-EU trading partners – shrunk by £0.5bn to £3.8bn in March.