THE UK’s trade deficit – the value of exports minus the value of imports – narrowed to £2bn in October from £2.8bn in September, according to figures published yesterday by the Office for National Statistics.
Total exports rose to £42bn while imports fell to £44bn.
The main contributor was a fall in oil prices – crude import values fell by £0.9bn.
This improved the trade deficit on goods, which was £9.6bn. Services ran a surplus of £7.6bn.