UK April visible trade deficit shrinks more than expected, exports remain solid

As reported by the Office for National Statistics (ONS), the UK's visible trade deficit in April shrank more-than expected to GBP10.526 billion, narrowing from GBP11.204 billion in March. Markets had predicted a deficit of GBP11.100bn.

The total trade deficit shrank to GBP3.3 billion in April from a downwardly revised GBP3.5 billion seen last, and more than estimates of GBP3.7 billion.

Total exports rose 5.3% to GBP44.9 billion, which the ONS noted was the biggest jump in percentage terms since February 2010, while the Total imports rose 4.4% to GBP48.2 billion.