Britain's goods trade gap with the rest of the world narrowed more than expected in January to its smallest in more than a year, official data showed today.
The Office for National Statistics (ONS) said that Britain's goods trade gap narrowed to £6.226 billion sterling from £6.945 billion in December, the smallest deficit since October 2005. Economists had forecast a deficit of £6.9 billion.
The goods trade gap with non-EU countries narrowed to £3.678 billion
from £4.321 billion in December. Analysts had forecast a deficit of £4.3 billion.
The ONS said exports to EU countries - which now include Bulgaria and Romania - fell 3.5 per cent but that exports to non-EU countries leapt 6 per cent.
Imports from the EU fell 3.5 per cent, and imports from the rest of the world fell 2 per cent.