The U.K. visible trade deficit decreased slightly in March largely due to an increase in exports, the Office for National Statistics said Friday.
The deficit on trade in goods totaled GBP 9.1 billion in March, down from GBP 9.2 billion in February, but slightly above the consensus forecast of GBP 9 billion.
The increase in exports outpaced growth in imports in March. Exports increased 4.9 percent and imports were up 3.2 percent from the previous month.
The deficit on goods was partially offset by a surplus of GBP 5.9 billion on services. As a result, the total trade balance showed a shortfall of GBP 3.1 billion in March, smaller than last month's GBP 3.4 billion deficit.
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