Britain's goods exports hit three-year low

Britain's exports of goods sank in February to the lowest level for more than three years, hit by weaker sales to EU countries, official data showed on Wednesday. The data came against a background of an overall improving British economy, as highlighted by the International Monetary Fund in its spring forecasts on Tuesday.
Exports of goods fell 1.6 percent in February from the January level to £23.5 billion, the Office for National Statistics said in a statement. That was the lowest level since November 2010. February's weakness was driven by poorer sales to other nations in the European Union, which is Britain's biggest trading partner. However, the ONS added that imports of goods fell faster than exports, dropping 2.2 percent to £32.6 billion. As a result, the overall deficit shrank to £9.1 billion in February from £9.5 billion in January.