Britain's trade gap widened by almost 3pc in March as import growth outpaced export growth. The UK's global trade in goods deficit widened in March to STG3.6bn from STG3.5bn the previous month, the National Statistics (NS) said. Total exports of goods rose 0.5pc to STG15bn and total imports rose 1pc to STG18.6bn, NS added. The consensus forecast of economists was for a STG3.5bn deficit. Including services, the UK trade deficit widened to STG2.3bn from a STG2.2bn gap in February.
Exports to non-EU countries were barely changed but exports to EU countries climbed 1pc as the appreciation of the euro made UK goods cheaper in the eurozone. The single currency has gained more than 7.5pc so far this year, rising from around 66.5p to almost 72p this week. Imports from EU countries fell 1pc while imports from non-EU countries rose 3pc. The non-EU trade deficit in goods widened to STG2.7bn from STG2.4bn. //www.fxcentre.com/