The seasonally adjusted trade in goods and services deficit was £1.6bn in October down from £4.3bn in September according to the ONS. It is the smallest deficit since April.
The deficit on trade in goods amounted to £7.6bn and the surplus on trade in services amounted £6bn. Exports rose to a record £26.5bn and imports fell from the record £34.6bn in September to £34.1bn in October. Both import and export prices fell in October by 0.6% and 0.4% respectively.
There was a £2.1bn increase in exports of goods to both EU (£13.9bn) and non-EU (£12.6bn) countries.
The biggest changes in key commodity value between September and October were in exports of chemicals (+£596m) and capital goods (+£327) and imports of oil (+£276m). Consumer goods other than cars had the biggest downward change (-£246).
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