The U.K. Office for National Statistics (ONS) released trade data for the U.K. on Tuesday. The U.K. trade deficit in goods narrowed to £9.92 billion in December from £11.50 billion in November. November's figure was revised up from a deficit of £10.64 billion.

The decline in deficit was driven by a drop in imports. Exports of goods dropped 0.8% in December, while imports slid 3.6%.

In 2015 as whole, the trade deficit widened to £125.028 billion from £123.143 billion in 2014.

The total trade deficit, including services, narrowed to £2.17 billion in December from £4.03 billion in November. November's figure was revised up from a deficit of £3.17 billion.

In 2015 as whole, the total trade deficit widened to £34.7 billion from £34.4 billion in 2014.