UK goods trade deficit down to $25.1B in March

ISTANBUL

The UK's trade balance posted a deficit of £18.9 billion ($25.1 billion) in March, down £0.6 billion from the previous month, the Office for National Statistics said on Thursday.

The market had expected the monthly deficit to come in at £19.1 billion.

The country's goods exports totaled £31.1 billion, up 0.8% month-on-month, while goods imports reached £50 billion, down 0.7% in the same period, the office said.

Exports to EU member states were at £14.3 billion, up 1.6% in March, while imports came in at £26.4 billion, also up 0.9%, resulting in a deficit of £12.1 billion.

The trade deficit to non-EU countries was £6.8 billion, with exports rising 0.1% to £16.8 billion and imports falling 2.5% to £23.6 billion.

Exports to the US climbed £2.4 billion in March, the fourth consecutive monthly rise, while imports of US goods increased £1.3 billion.

In the three months ending in March, the trade deficit narrowed by £3.6 billion to a total deficit of £6.6 billion compared to the previous quarter.

"The trade in goods deficit narrowed by £4.3 billion to £55.2 billion in Quarter 1 2025, while the trade in services surplus is estimated to have narrowed by around £0.7 billion to £48.6 billion," it noted.

In the first quarter, goods exports climbed 7.3% on a quarterly basis to £92.7 billion, while imports rose 1.4% to £147.9 billion