UK's trade balance sees deficit of $27.2B in April

By Gokhan Ergocun

ISTANBUL (AA) – The UK's trade balance posted a deficit of £20.89 billion (about $27.19 billion) in April, up from £10.46 billion (about $14.43 billion) in the same month last year.

The country's exports totaled £31.47 billion (approximately $40.9 billion) in April 2022, up from £27.98 billion (approximately $38.5 billion) in April 2021, according to official data released on Monday.

Meanwhile, the UK's imports increased from £38.44 billion (about $53.04 billion) to £52.36 billion (about $68.09 billion) over the same period.

The average GBP/USD exchange rate was 1.3 in April 2022, down from 1.38 in April 2021.

The country's trade balance with the EU countries also posted a deficit of £9.9 billion (about $12.87 billion) in April, with £16.44 billion (about $21.4 billion) in exports and £26.35 billion (about $34.25 billion) in imports.

While the US, Netherlands and Germany were the main destinations for the UK's exports, Germany, the US and China were the main sources of the country's imports.​​​​​​​​​​​​​​