The UK’s trade balance posted a deficit of £21 billion (about $28.1 billion) in April, down from the previous month, but above market expectations the Office for National Statistics (ONS) said Friday.
The value of goods imports rose by £0.8 billion ($1.08 billion), or 1.5%, in April compared with March, reaching £54.1 billion, according to the data.
The increase was driven by a £1.1 billion, or 4%, rise in imports from the EU, which was partially offset by a £0.3 billion, or 1.2%, fall in imports from non-EU countries.
Goods exports also rose by £0.8 billion, or 2.6%, in April to £33.1 billion, with exports to both EU and non-EU countries increasing by £0.4 billion.Imports from the EU totaled £29 billion in April, £3.9 billion higher than imports from non-EU countries. Exports to the EU and non-EU countries were broadly similar, at £16.6 billion and £16.5 billion, respectively.
The ONS said the rise in EU imports was mainly because of a £600 million increase in fuel imports, particularly higher refined oil imports from the Netherlands.
Imports of machinery and transport equipment from the EU rose by £300 million, while chemical imports increased by £200 million.
Imports from non-EU countries fell mainly because of lower fuel imports, including reduced gas imports from Norway and the US, and lower refined oil imports from Kuwait, Nigeria and the United Arab Emirates, which the ONS said may be linked to the closure of the Strait of Hormuz.On the export side, shipments to the EU increased mainly because of a £400 million rise in machinery and transport equipment exports, linked to higher exports of mechanical power generators and aircraft to Germany.
Exports to non-EU countries also rose, mainly due to a £400 million increase in machinery and transport equipment exports, including mechanical power generators to the United Arab Emirates.
