#UK: Britain's #tradedeficit shrinks as fall in #oilprices cuts #importcosts

Dramatic fall in oil prices contributes to improved trade balance but higher pound and fall in exports to eurozone limit gains

The narrowing of the deficit reflected a £2.5bn drop in imports, almost half of which was due to lower imports of oil. Photograph: Christian Charisius/Reuters

Britain’s trade balance improved in January after a dramatic fall in oil prices cut the cost of imports.
But the higher pound and a fall in exports to the eurozone limited the gains from cheaper energy supplies brought into the UK... (Read more)

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