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Economic Buzz: UK trade deficit narrows by GBP 3.6 billion in Q1
15-May-2025 12:12
According to the data released by the Office for National Statistics, UK's value of goods imports decreased by '0.4 billion (0.7%) in March 2025 because of a fall in imports from non-EU countries, partially offset by a rise in EU imports.

The value of goods exports increased by '0.2 billion (0.8%) in March 2025, with a rise in exports to the EU.

Exports of goods to the United States increased for the fourth consecutive month; there was a '2.4 billion rise in Quarter 1 (Jan to Mar) 2025, while imports of goods from the United States rose by '1.3 billion.

The total goods and services trade deficit narrowed by '3.6 billion to a deficit of '6.6 billion in Quarter 1 2025, compared with the previous quarter.

The trade in goods deficit narrowed by '4.3 billion to '55.2 billion in Quarter 1 2025, while the trade in services surplus is estimated to have narrowed by around '0.7 billion to '48.6 billion.

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