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Trade deficit widens says ONS

THE UK's deficit on trade in goods and services was estimated to have widened to £2.5 billion in April 2014, compared with the £1.1 billion recorded in March.

The Office for National Statistics said there was a deficit of £9.6 billion on goods which was partly offset by a £7.1 billion surplus on services.

However the ONS warned that omissions in the data from HMRC had resulted in exports of oil being underestimated by about £700 million, suggesting the overall defict may have been closer to £1.8 billion.

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