Exports rise and cut UK trade gap

<p>The UK’s trade gap has been cut.</p>

Exports out of the UK have increased and this has helped to cut the country's trade gap.

Data released by the Office for National Statistics (ONS) revealed that the trade gap in goods with non-EU countries came down sharply from £4 billion in May to £2.6 billion in June.

With analysts having predicted this figure to be £3.8 billion, it is another indication the UK's economic recovery is starting to gather pace.

The economy expanded by 0.3 per cent in the first quarter of the year and this expanded to 0.6 per cent for the second three-month period of 2013.

Some analysts have forecasted growth for the year as a whole to be around the one per cent mark, but a raft of positive data released in recent weeks could see predictions increase.

"This positive trade data supports our view that the manufacturing sector will gain momentum and will be a source of growth for the UK economy over the coming years," said Rachel Pettigrew, senior economist at the EEF manufacturers' organisation.

Earlier this week, it was revealed that the US trade gap had been cut by 22.4 per cent to $34.2 billion (£22.3 billion) in June.

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