U.K. Trade Gap Narrows as Exports of Oil, Chemicals Soar
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Britain’s trade deficit narrowed more than economists forecast in July as exports soared the most in more than nine years.
The goods-trade gap fell to 7.2 billion pounds ($11.5 billion pounds) from 10.1 billion pounds in June, the Office for National Statistics said today in London. The median forecast in a Bloomberg News survey of 20 economists was 9 billion pounds. Exports rose 9.3 percent, the biggest increase since January 2003, while imports fell 2.1 percent.