The value of goods imports decreased by £1.2 billion (2.5%) in March 2024, because of falls in imports of machinery and transport equipment and fuels. The value of goods exports decreased by £0.4 billion (1.3%) in March 2024, with a fall in exports to non-EU countries partially offset by a rise in exports to the EU. There is no evidence that recent disruption to shipping in the Middle East and Red Sea has affected UK imports in Quarter 1 (Jan to Mar) 2024. The total goods and services trade deficit narrowed by £4.7 billion to a deficit of £7.8 billion in Quarter 1 2024, and has been steadily reducing since Quarter 1 ... (full story)