UK April visible trade balance -£12.1 billion vs -£13.0 billion expected
Latest data released by ONS - 10 June 2019
- Prior -£13.7 billion; revised to -£15.4 billion
- Non-EU trade balance -£4.6 billion vs -£4.5 billion
- Prior -£4.4 billion; revised to -£6.2 billion
The headline may suggest that the trade deficit is narrowing but the details make for some very rough reading. Exports fell by 8.4% in the month of April, while imports fell by a whopping 12.7% on the month.
This, combined with the poor GDP report earlier is translating into a really tough Q2 for UK economic conditions and is dragging the pound lower on the session.