Latest data released by ONS - 13 May 2020
- Prior -£11.5 billion; revised to -£9.8 billion
- Non-EU trade balance -£4.9 billion vs -£4.0 billion expected
- Prior -£5.6 billion; revised to -£3.9 billion
Slight delay in the release by the source. Exports fell by 5.8% on the month while imports surprisingly moved up by 2.8% on the month, resulting in the larger trade deficit.
That said, April conditions are likely to worsen and that will weigh more on Q2 GDP considering the path to recovery also remains far from certain amid lockdown measures.
