#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)

EXTERNAL EXPANSION LTD., www.externalexpansion.net

Surge in imports widens UK trade deficit

Shortfall between exports and imports was the largest since January after imports rose at their fastest pace for almost a year. 

Phillip Inman, economics corresponden.The Guardian, Thursday 10 July 2014 13.46 BST

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