London: The UK's trade balance recorded a deficit of £21 billion (approximately $28.1 billion) in April, as reported by the Office for National Statistics (ONS) on Friday. This figure, although lower than the previous month, exceeded market expectations.

According to Anadolu Agency, the data revealed a £0.8 billion ($1.08 billion), or 1.5%, increase in goods imports in April compared to March, bringing the total to £54.1 billion. The rise in imports was primarily driven by a £1.1 billion, or 4%, increase in imports from the EU, which was somewhat counterbalanced by a £0.3 billion, or 1.2%, decrease in imports from non-EU countries.

Goods exports also experienced growth, climbing by £0.8 billion, or 2.6%, to £33.1 billion in April. Both EU and non-EU countries saw their exports increase by £0.4 billion. Imports from the EU amounted to £29 billion in April, surpassing imports from non-EU countries by £3.9 billion. Exports to the EU and non-EU destinations were nearly identical, at £16.6 billion and £16.5 billion, respectively.

The ONS attributed the rise in EU imports mainly to a £600 million surge in fuel imports, especially refined oil from the Netherlands. Additionally, machinery and transport equipment imports from the EU increased by £300 million, while chemical imports rose by £200 million.

Imports from non-EU countries declined, largely due to a reduction in fuel imports, including gas from Norway and the US, and refined oil from Kuwait, Nigeria, and the United Arab Emirates. The ONS suggested this decrease might be linked to the closure of the Strait of Hormuz.

On the export front, shipments to the EU grew, thanks largely to a £400 million increase in machinery and transport equipment exports, driven by higher mechanical power generator and aircraft exports to Germany. Exports to non-EU countries also rose, attributed mainly to a £400 million rise in machinery and transport equipment exports, including mechanical power generators to the United Arab Emirates.