The UK trade gap fell because we imported less. This is a good sign, though not exciting as it should be for the nation. It is like an inch in the right direction is better than anything going the wrong way. The dulling affect against this potential good news is that exports also fell, though not at the rate of import fall. The result was to narrow the trade gap for the UK economy, which, if it can be repeated persistently, could result in a more optimistic future.
This margin of a shrinking trade gap is very narrow at this time, but if we could edge towards a greater level of decline in import against growing exports, then we could see something more substantial developing in the UK economy. Let's all keep our fingers crossed for the UK.
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