UK trade deficit shrinks in April

Britain's trade shortfall with the rest of the world narrowed in April as import demand fell back after rising during the prior month.

The total trade deficit shrank by £1.8bn month-on-month to reach -£2.1bn, according to the Office for National Statistics.

Economists had expected -£3.5bn of red ink.

However, in comparison to the three months to January the trade deficit over the three months to April increased by £1.7bn to £8.6bn, amid increased purchases of aircraft, cars and chemicals from abroad.

The trade deficit for the first quarter of 2017 was revised lower by £1.3bn to -£9.3bn.

Both export and import prices declined in April, retreating by 1.1% and 0.9% month-on-month, respectively, as the value of sterling rose by 2.2%.